Filinvest Development Corp. plans on hiking its capital expenditure budget by almost half this year. This is mainly to support the real estate and power generation business expansions. It was reported by FDC Investor Relations Officer Ana Regina A Santillan to reporters last week.
More than half of the budget is earmarked for its real estate business through Filinvest Land, Inc. and Filinvest Alabang, Inc. Around 35% is to be allotted for its power business. This will fund the expansion of hotels, banking, and sugar businesses. For the power sector, FDC is choosing a more conservative approach, with their 405 MW coal-fired plant close to commissioning.
