Ayala to consolidate energy, water, transport, and logistics businesses

Ayala Corp. on Monday said it will consolidate its energy, water, and transport and logistics businesses under a holding company, in efforts to boost its foothold within the Philippine physical infrastructure space.

In a statement, AC said it will consolidate businesses under AC Energy Inc., which will be renamed to AC Energy and Infrastructure Corp.

This will house the company's stake in two listed companies AC Energy Philippines Inc. and Manila Water Company Inc., and its unlisted unit AC Infrastructure Holdings Corp.

"We believe that consolidating our various infrastructure interests creates a formidable platform with a strong balance sheet and allows Ayala to participate in the many opportunities in infrastructure development in a more significant way," said Ayala chairman and chief executive officer Jaime Augusto Zobel de Ayala.

"The Energy and Infrastructure platform emerges as one of the major pillars
of Ayala, along with real estate, banking, and telecommunications," he added.

Ayala currently has a 2,000 megawatt capacity in renewable and conventional power.

It also operates and develops water, wastewater, and other related assets through the East Zone concession. Meanwhile, AC infra has investments in mass transportation, mobility, and logistics.

"The consolidation can generate a host of opportunities for our various infrastructure businesses. We shall continue the rapid expansion of AC Energy in the renewables space and scale up our investments in transport and logistics," Ayala president and chief operating officer Fernando Zobel de Ayala said.

"We will also continue to invest significantly in the water sector to ensure long term water sustainability and reliability," he elaborated.—AOL, GMA News