EEI okays capital infusion for expansion initiatives

EEI Corporation will inject Php 3.85 billion into its subsidiaries to fuel their growth and expansion.

In a report by Philippine Star, the company’s board greenlighted an investment of Php 1.7 billion in subscribed capital for EEI Power Corporation and an additional Php 1 billion for EEI Ventures Inc.

EEI Power focuses on operating and managing power generation facilities for manufacturing firms, while EEI Ventures, established this year, aims to acquire and manage stakes in new businesses.

In addition, the parent company would allocate Php 600 million to EEI Construction and Marine Inc. and Php 550 million to EEI Ltd.

EEI Corporation also announced plans last month to issue 20 million preferred shares at a par value of Php 0.50 through private placement.

The preferred shares carry a dividend rate of 6.75% per annum, payable quarterly starting three months after issuance.

The fresh capital infusion will help these subsidiaries pursue various business expansion opportunities, the company said.

EEI Corporation is a key player in the construction sector, with large-scale infrastructure projects in the pipeline, including major railway developments.

With over 93 years in the industry, EEI provides a wide range of engineering and construction services, specializing in infrastructure, buildings, industrial facilities, and electromechanical projects.