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DMCI Holdings Inc. is ramping up its 2024 capital expenditures to P58.9 billion, up 24 percent from P47.5 billion it spent in 2023 to finance the expansion plans in water, power and mining.
Maynilad said it would spend P31.4 billion in capital expenditure for 2024 for its wastewater, sewerage and pipe laying projects. It is also setting aside P7 billion for Semirara Power and Mining Corp. for refleeting and exploration activities as well as plant maintenance.DMCI Mining will spend P1.1 billion for 2024, up by 133 percent from a year ago to finance refleeting and exploration projects.
DMCI saw its net income decline by 20 percent to P24.9 billion in 2023 as consolidated revenues dropped 14 percent to P122.8 billion from P142.6 billion.
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