Businessman Leandro Leviste, through his wholly-owned Provincia Investments Corp., is investing over P 15 billion in various projects in Batangas and other provinces.
Leviste said in a statement Tuesday the P15-billion capital spending is on top of the P5 billion initially-announced investments in Batangas by Countryside Investments Holdings Corp., another company he owns.
Provincia is primarily focused on making value investments in real estate and equities for industrial, commercial, energy- and infrastructure-related developments.
The company seeks to increase household incomes and propel the sustainable development of its target provinces by creating jobs in rural areas.
“We are grateful to our partners who have helped our business grow. Now that we have this capital, it is our responsibility to invest it to benefit as many of our countrymen as we can,” Leviste said.
Provincia also recently acquired the largest poultry farm in Nueva Ecija, which owns about 60 hectares.
The company did not disclose the price of the transaction, but said the land was valued at an attractive price, net of the value of the poultry structures.
Provincia said it would work with Solar Philippines to develop its landbank in Batangas, Tarlac and Nueva Ecija.
The planned investments in Batangas will be sourced from the sale of Leviste’s stake in renewable energy firm SP New Energy Corp. (SPNEC).
Leviste’s wholly-owned Solar Philippines Power Project Holdings Inc. (Solar Philippines) recently sold P6.7 billion worth of SPNEC shares to Meralco PowerGen Corp.
Solar Philippines raised about P15 billion from the sale of SPNEC shares. Solar Philippines, however, will continue to own about 29 percent of SPNEC.
Leviste also acquired shares in Lopez-owned media company ABS-CBN Corp. and expressed interest in acquiring a controlling stake in sugar and ethanol producer Roxas Holdings Inc.
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