The Aboitiz and Lopez groups, two of the country’s largest conglomerates, have teamed up to scout for big-ticket construction projects in the Visayas.
Aboitiz Construction Inc. and First Balfour, a unit of Lopez-led First Philippine Holdings, recently signed a memorandum of understanding (MOU) to explore potential project collaborations in the Visayas.
The two construction firms have agreed to exclusively work together, combining their expertise and resources to pursue prospects in the Visayan region, and ultimately secure contracts for successful project execution.
“This partnership guarantees resilience and competitiveness as both can leverage on respective strengths,” Aboitiz Construction chair Jaime Jose Aboitiz said in a press statement on Monday.
Combined, Aboitiz Construction and First Balfour bring to the table almost a century of construction experience. “Both have a strong presence in the country and share the same core values of integrity, teamwork and execution excellence,” a statement issued by Aboitiz Construction said.
Aboitiz Construction started in 1975 with its head office in the Visayas while First Balfour started in 1969 with its head office in Luzon.
Present during the MOU signing were First Balfour president and chief operating officer Anthony Fernandez, Aboitiz Construction chair Jaime Jose Aboitiz and Aboitiz Construction president and chief operating officer Albert Ignacio Jr.