Latest news with #Filinvest
Forbes
08-08-2025
- Business
- Forbes
Gokongwei, Gotianun JV Seeks To Expand Philippine Airport Operations Amid Travel Boom
A joint venture between JG Summit Holdings and Filinvest Development Corp. is seeking to expand their airport operations to tap into the travel boom. The duo—which runs the Clark International Airport, north of Manila, with Singapore's Changi Airport Group—submitted a proposal to modernize three provincial airports at some of the country's tourist hot spots. It's currently under review, Transportation Secretary Vince Dizon said in the Department of Transportation's website. The partners are proposing to modernize and expand major regional airports in Bicol, Davao and Siargao, Dizon said, adding upgrading these airports will help boost commerce and tourism in these areas. Bicol, south of Manila, is home to Mount Mayon, a volcano known for its perfect cone. Siargao and Davao, both on the southern Mindanao Island, are respectively popular destinations for surfing and Mount Apo, the country's highest peak and habitat to the endangered Philippine Eagle, the world's biggest eagle by length and wing surface area. The Philippine government has been tapping private investors to improve the country's aging airport infrastructure. Aboitiz Equity Ventures runs the Mactan International Airport in the central Philippine island of Cebu, while billionaire Ramon Ang's San Miguel Corp. is spearheading the 170.6-billion-peso ($3 billion) upgrading and expansion of the country's main gateway, the Ninoy Aquino International Airport in Manila. JG Summit, which got its start from a corn starch factory founded by the late billionaire John Gokongwei in 1954, now has interests in airlines, food and beverage, banking, petrochemicals and utilities. His son Lance (who runs JG Summit as its president and CEO) and his sisters have a combined net worth of $1.8 billion, placing them at No. 14 on the list of the Philippines' 50 Richest published this week. Filinvest Development, which was founded by the late couple Mercedes and Andrew Gotianun Sr. as a small financing company in 1995 has grown into one of the country's largest conglomerates with interests in banking, sugar, power and real estate. Their heirs have a combined net worth of $800 million.
GMA Network
12-06-2025
- Business
- GMA Network
Filinvest-ENGIE joint venture completes solar rooftop project in Laguna
The Filinvest Group and ENGIE Services Philippines have completed a three-megawatt-peak (MWp) solar rooftop system for Nexperia Philippines in Cabuyao, Laguna. Through the joint venture company, Filinvest-ENGIE Renewable Energy Enterprise Inc. (FREE), the project reflects the growing portfolio of clean energy solutions for industrial clients and underscores its commitment to supporting the country's low-carbon transition. 'This milestone in our push to expand renewable projects feels especially fitting as Filinvest celebrates 70 years of turning Filipino dreams into reality. Through this project, we aim to help fortify Nexperia's operations by improving the reliability and flexibility of its energy supply mix and shielding its lines from grid price volatility,'' FREE president and CEO Juan Eugenio Roxas said in a press release. The newly built solar facility at Nexperia's assembly and testing plant is expected to reduce thousands of tons of carbon emissions annually, which will later reinforce Filinvest's mission to foster environmental sustainability. The Nexperia installation is part of FREE's expanding renewable energy portfolio, which includes clean energy partnerships with MerasenkoCorporation and its flagship project: a 2.8 MWp solar rooftop project at Filinvest's Festival Supermall in Alabang. Gareth Hughes, Nexperia Philippines' Vice President and General Manager, hailed the project's success, saying, 'We have the hour-by-hour, day-by-day generation stats, and it is working remarkably well. This installation places us as pioneers within our group.'' Nexperia's Laguna facility, which produces up to one billion semiconductor components on a yearly basis, relies on a stable energy supply to back its high-volume operations. So far, the plant is making significant strides in reducing its carbon footprint while also lowering energy costs. In 2023, FREE secured three solar energy projects with a combined capacity of 13.68 megawatts (MW), which includes the Dutch semiconductor manufacturer Nexperia to implement the over 3-MW rooftop solar system for their facilities in Laguna. By 2035, Nexperia is targeting to achieve carbon neutrality in its direct operational emissions and the indirect emissions associated with energy procurement. This commitment necessitates a transition to 100% renewable electricity use by the same year. — LA, GMA Integrated News
