(March 15): Aboitiz Equity Ventures Inc., a Philippine conglomerate mainly invested in power, is ready to spend about 200 billion pesos ($3.8 billion) in upgrading the Southeast Asian country’s rickety and overcrowded airports.
“Airports is a play on consumer growth, on their increasing financial capability and on tourism,” President and CEO Erramon Aboitiz said in an interview on March 13. “The nation’s infrastructure requirements are tremendous all over. We’re behind in everything except power.”
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