Lopez group eyes return to infra via Cebu project
MANILA, Philippines - The Lopez family's listed holdings firm, First Philippine Holdings Corp. (FPHC), is eyeing a return to infrastructure projects.
In a disclosure to the stock exchange on Friday, April 5, FPHC said its board approved the participation, through a consortium, in the government's auction of the P17-billion Mactan-Cebu International Airport expansion project.
It did not name the consortium of the partners. The Lopez group are among the biggest business groups in the country that are joining the bid to expand and operate the country's 2nd busiest international gateway.
The Lopezes used to operate North Luzon Expressway (NLEx) but sold this to the Pangilinan-led Metro Pacific Investments Corp (MPIC) to pay off debts over a decade ago. MPIC is also among the bidders for the Mactan-Cebu airport project.
The Lopezes have since focused on core businesses: power and media. - Rappler.com