MANILA -– Ayala Corporation's bid to venture into infrastructure and power sector projects was boosted by the sale of 15,000,000 common shares held in treasury amounting to P6.45 billion yesterday, a government press release said.

In a disclosure with the Philippine Stock Exchange yesterday, the company said the shares are priced at P430 per share, which is a six percent discount compared to Tuesday's closing market price of P458.

“The company is in a phase of active investment and is eyeing to build new businesses in power and transport infrastructure,” Ayala president and chief operating officer Fernando Zobel de Ayala said in the press release.

He cited that “in the same manner Ayala invested in the telecom and water sector in the past, we believe the power and infrastructure sectors are critical for the country's growth and development.”

Ayala is keen on joining the public-private partnership program of the government by investing up to $1 billion in power generation assets as well as toll roads, rail and airport projects in the next five years.

In December last year, the company won the bidding for the construction of the Daang Hari – SLEX Connector road.

Ayala is also interested in bidding for the NAIA Expressway, the Cavite-Laguna Expressway, and the LRT Line 1 extension and operation and management. It is also eyeing to join the development of airports like the Mactan-Cebu International Airport, the press release added.

It recently formed an alliance with Metro Pacific Investment Corp. for light rail projects in Metro Manila.*PNA

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