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DMCI sets P40.7-billion capex for 2018

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DMCI Holdings, Inc. is setting aside P40.7 billion in capital expenditure this year, the bulk of which will go into its property and integrated energy businesses, company officials said on Tuesday, May 15.

“Without Maynilad [Water Services, Inc.], capex is P31.5 billion,” said Herbert M. Consunji, DMCI chief finance officer, told reporters after the holding firm’s annual stockholders meeting at the Manila Polo Club in Makati City.

Mr. Consunji said of the P31.5 billion, P16 billion had been allocated to DMCI Homes, Inc. Semirara Mining and Power Corp. will corner P13 billion, he added.

DMCI Power Corp., the firm’s off-grid energy developer, has a budget of P2.034 billion, which will go largely into the development of a 15-megawatt (MW) coal-fired power plant in Masbate province.

Last year, DMCI Holdings allocated a budget of P34 billion or P19.71 billion excluding the capital expenditure for Maynilad. — Victor V. Saulon