RCI Unveils New Ventures, Expands Core Businesses
Makati—(PHStocks)—Evolution is fast-becoming the name of the game in business and it takes commitment to get into the act. Roxas and Co. Inc. (PSE: RCI), backed by a century of reliability, has fast expanded its different business ventures in recent years.
Earlier this year, the company revealed its plans in strengthening its operations in real estate, particularly focused in gaining a foothold in hotels and resorts development and operations, and embarking into power generation through the establishment of a 50MW solar power plant. Just recently, it also announced its latest venture into coconut processing in partnership with Sigma Coco Xynergies Inc.
RCI Chairman, President and CEO Pedro E. Roxas said it is imperative for the group to act fast to keep up with the changing demands of the times.
“We are always on the lookout for opportunities, and we need to act decisively for us to address and help alleviate the rising demands that come with the globalization of the economy,” Roxas said.
For RCI’s investment in agribusiness, RCI continues to expect strong prospects for Roxas Holdings Inc. (PSE: ROX), the country’s largest integrated producer of sugar and ethanol, as it continues to scout for additional acquisition opportunities. RHI recently acquired San Carlos Bioenergy Inc., the first integrated, sugarcane-based, fuel bioethanol distillery and power cogeneration facility in Southeast Asia. This is in addition to RHI’s existing successful subsidiaries, namely: Central Azucarera Don Pedro Inc.; Central Azucarera de la Carlota Inc.; Roxol Bioenergy Inc. and its affiliate, Hawaiian-Philippine Company Inc.
RCI’s expansion of its business interests into the high-growth areas of real estate development and hotels and resorts operations and management is supported by the group’s outlook for Roxaco Land Corp.
Roxaco Executive Vice President Santiago R. Elizalde said the company has simultaneous real estate projects all over the country. “We have four ongoing property development projects on top of the six hotel and resort projects that we expect to complete within the next two to three years. These projects will provide Roxaco not only substantial revenues, but also the necessary recurring income to sustain its strong growth and development. These are exciting times for Roxaco, so the future looks extremely promising,” Elizalde said.
RCI’s venture into solar power, carried out through Roxas Green Energy Inc., is also geared to start operations in 2016. The 50MW solar power project will be developed within the 2,000-hectare Roxas landbank in Nasugbu, Batangas. The first phase of 30MW, totaling PhP1.7 billion, is scheduled to come on line in the third quarter of 2016. The company submitted to the Department of Energy (DOE) its application for service contract and FIT allocation. It has engaged the services of Poyry Energy Inc., a global Finnish engineering and consulting company, for the engineering, design, procurement and construction management.
In the meantime, RCI is also focused on completing its studies for its coconut processing business. Planning for the project has commenced for it to be operational in 2017.