Hitachi sees bright prospects in PH
Japanese conglomerate Hitachi Ltd. expects to expand further its business in the Philippines to match the local economy’s robust growth.
Ichiro Iino, chief executive for Asia Pacific of Hitachi Ltd., said the company is “certainly interested” in participating in as many opportunities as they can in the country’s power generation, transmission and distribution sectors, as the Philippines’ electricity requirements continue to rise with the growth of the economy.
According to Iino, the company’s local unit already has existing projects with Manila Electric Co., the country’s largest distribution utility, the latest of which was the supply of 115-kilovolt gas insulated switchgear (GIS) for use in substations.
“We are discussing various business opportunities with Meralco. We (can supply) the technology, batteries, and connectivity, among others. As Meralco expands its business, we are trying to work with them. We currently have a supply contract… Meralco is expanding its power services so I believe they will definitely need additional facilities to take care of increasing capacity,” Iino said.
He added that they are also open to supplying the needs of other companies.
Iino admitted that their business in the Philippines is relatively smaller compared to other neighboring countries. He said they are bullish, however, that they can boost revenues not only in the Philippines but across the Asia Pacific countries by at least 10 percent—faster than the economic growth of the region.
“There is a large opportunity here (in the region). I cannot be satisfied with growing at the same pace as the economic growth in the region. We want it higher,” he added.
