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Friday, March 29, 2024

Metro Pacific moves to expand operations, provide better customer services in 15 years

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Infrastructure conglomerate Metro Pacific Investments Corp. will remain focused on growing the business and providing better services to customers over the next 15 years, its top executive said Friday.

“The next 15 years promise only two things, more to come and better service. The reliability of our infrastructure, innovation driven by technology and corporate citizenship will help launch our nation into the next few decades,” Metro Pacific chairman Manuel Pangilinan said

in a ceremony to celebrate the company’s 15th listing anniversary at the Philippine Stock Exchange.

Pangilinan is set to take over as president of the conglomerate by January following the retirement of Jose Ma. Lim.

The conglomerate has major investments in water utility, power generation, toll roads, healthcare and railway sectors.

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Lim said during the ceremony that Metro Pacific managed to grow Maynilad Water Services Inc. From losing two-thirds of its water revenues through leaks or theft, Metro Pacific invested heavily into Maynilad to increase water supply and household connections to current 9.9 million customers from 6.4 million in 2007.

Metro Pacific said it also invested heavily in infrastructure such as new roads and the Cebu-Cordova Link Expressway.

“These new projects will double the size of our tollroads business by 2023-2024,” Lim said.

The group operates 230 kilometers of toll roads in the Philippines and another 174 km. In other countries.

Lim said Manila Electic Co. was aggressively pursuing renewable projects totalling 2,5000 megawatts over the next seven years.

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