Megawide Construction Corporation, a leading engineering and infrastructure firm in the Philippines, is eager to build a portfolio of digital infrastructure, which has been shown to be essential in maintaining business continuity.
According to Jaime Raphael Feliciano, chief business development officer at Megawide, their approach is to focus on industries they believe to be scalable, high-growth, and cycle-resistant, and digital infrastructure meets the criteria in this regard. In the future, they are eager to look into further related potential in the field of digital infrastructure.
Moreover, he added that Megawide’s intention to build data centers marks the company’s entry into the field of digital infrastructure. Their major priority at the moment is creating a seed asset that will eventually grow into a portfolio of assets.
In essence, they want a proof of concept before investing fully in the business. Due to technical improvements, they also envision a lucrative market in the area of digital infrastructure. And they think this industry has very appealing growth prospects.
Recently, the Mactan Cebu International Airport was the subject of a P25 billion share subscription and transfer deal between Megawide and GMR Airports International BV, which together make up the GMR-Megawide Cebu Airport Corp. The Aboitiz-led business will entirely own the Cebu airport by 2024.
Its current projects include the Metro Manila Subway System, the Newport Link, the Malolos-Clark Railway Phase 1 project, and the Suncity West Side City project.
“As a growing conglomerate, we need to ensure that we are still able to grow during economic downturns,” Feliciano said to Inquirer.net