Aboitiz Power Corp., the power generation and distribution unit of the Aboitiz Group, posted a net income of P10.6 billion in the third quarter, a 5 percent gain from the year-earlier period, driven mainly by improved margins from its generation segment.
Aboitiz Power Corp. said its wholly-owned subsidiary, Aboitiz Renewables, Inc., has received confirmation from the Power Sector Assets and Liabilities Management Corp. (PSALM) that the Thunder Consortium has been awarded the sale and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex.
The power distributor Manila Electric Co. (Meralco) is now compelled to temporarily procure supply from the Wholesale Electricity Spot Market (WESM) as the contracted emergency power supply agreement (EPSA) with Aboitiz Power Corp. worth 300 megawatts (MW) ended on Wednesday.
The Department of Agriculture (DA) has started construction on a P365.9 million farm-to-market road (FMR) project in Surigao City to improve agricultural transport and boost rural livelihoods.
Property developer AppleOne Group Inc. has officially launched Mahi Center, a new mixed-use development on Mactan Island, expanding its portfolio in Cebu.
International Container Terminal Services Inc. (ICTSI) said Wednesday it has completed the sale of its 51 percent stake in Yantai International Container Terminal Ltd. (YICTL) in China.