Lopez's FPH allocates P57 B for growth in power, property

Lopez-led First Philippine Holdings Corporation (FPH) is focusing on the growth of its power generation and real estate businesses, which are being allocated the bulk of the group's planned investments amounting to P57 billion this year.

- By JAMES A. LOYOLA

On the sidelines of the firm’s annual stockholders’ meeting, FPH Chief Finance Officer and Treasurer Emmanuel Antonio P. Singson said power subsidiary First Gen Corporation will get the lion’s share of $600 million or about #33 billion.

“That’s primarily for EDC (geothermal firm Energy Development Corporation), and they’ll fund it through debt at the EDC level. They’re planning to borrow about P27 billion in 2025,” he said.

Singson said Rockwell Land and First Philippine Industrial Park will get a combined share of 22 billion which the subsidiaries will also finance through debt at their level.