DMCI Holdings chair and CEO Isidro Consunji said the conglomerate will lean harder into its power and water utilities in 2024 to bolster earnings amid a slowdown in property and commodities.
Portfolio rebalancing
During DMCI’s annual stockholders’ meeting on Tuesday, Consunji said the 300-Megawatt (MW) Unit 2 of Calaca coal-fired power plant will come online by May this year.
The power project is operated by the holding company’s subsidiary, Semirara Mining and Power Corp.
Another subsidiary, DMCI Power, will provide 40-MW in various islands, including power plants in Palawan, Masbate, and a 12-MW wind farm in Semirara Island, among the company’s emerging portfolio of renewable energy projects.
Consunji said Maynilad Water Services’ P11 billion water treatment plant in Poblacion, Muntinlupa, became fully operational last month and will support earnings this year.
DMCI Power and Maynilad were top growth contributors to the conglomerate during the first quarter.
Mining acquisitions
Consunji said gold, copper, and coal mining acquisitions are on the radar, should the opportunity arise.
“We’re currently looking at large mining assets, probably copper and gold, and maybe an additional coal mine in Mindanao if possible, provided it's an open pit [mine],” he said during the meeting.
“Aside from that, we just intend to continue with our aggressive organic growth,” Consunji said.
For the nickel mining segment, Consunji said the company controls “various nickel assets that are not operational” because they were waiting for the necessary licenses and permits.
Their goal is to start operations for new nickel mines in Zambales and Palawan before the end of 2024.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
