Roxas & Co Inc., the listed holding company of the Roxas Group, plans to spend P3.5 billion over the next 18 months to purse new ventures, especially in the renewable energy and agri-export businesses.
RCI president Pedro de Roxas in an interview at the sidelines of the annual stockholders’ meeting said the company was laying the groundwork for its renewable energy business. The company plans to build a portfolio of 100 megawatts of solar over the long-term period.
Slated for completion by the middle of 2016 is the company’s first 30-MW solar power in Nasugbu, Batangas. Roxas said the company would start construction of another 20-MW plant for completion by late 2017.
“After the first 50 MW and depending on the demand, ideally we would like bring our solar energy capacity up to 100 MW,” Roxas said.
Roxas said the increase in the demand for additional energy capacity in the country would continue amid the world-wide consciousness for clean energy.
Roxas said the company, meanwhile, was building a coconut farming and processing plant in Tupi South Cotabato.
The plant, which is expected to be completed by the end of 2016, has a capacity of 200 metric tons per day of coconuts to produce coconut water concentrate, coconut milk, coconut cream and virgin coconut oil, mostly for export.
“With the rapidly increasing worldwide consciousness of health benefits derived from coconut water, coconut cream and milk and virgin coconut oil complemented by other key business factors… we are confident we have the ingredients needed to reap the benefits soon after our facility becomes operational in 2017,” Roxas said.
Roxas expects the solar business to account for 50 percent of the group’s revenues, with 20 percent coming from the coconut processing business.
The balance will come from its real estate business, which is pursuing real estate opportunities for mixed-use residential projects within greater Metro Manila.
RCI, through its property arm Roxaco Land Corp., is set open the first five G-Hotels 2016. These are located along Quirino Avenue in Parañaque City near the Ninoy Aquino International Airport, North Edsa, Timog Ave and Cubao in Quezon City, and Malate, Manila.
The company is now evaluating future sites for the next five Go Hotel units that it plans to build.