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JOIN Supports the Comprehensive Infrastructure Operation Business in the Philippines

Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) announces its decision and receipt of approval from the Minister of the Land, Infrastructure, Transport and Tourism of Japan on February 9, 2023, to provide capital for the comprehensive infrastructure operation business in the Philippines together with Mitsui & Co., Ltd. (Mitsui).

For this project, the Japanese consortium comprised of Mitsui and JOIN, will acquire a portion of Metro Pacific Investments Corporation’s (MPIC) shares through a tender offer to participate in the comprehensive infrastructure operation business in the Philippines.

MPIC group operates a wide range of infrastructure businesses through its subsidiaries and affiliates including toll roads, water supply and sewage service, railroads, power distribution and generation etc., mainly in Metro Manila in the Philippines. The group also operates infrastructure businesses in the Southeast Asian region outside of the Philippines.

As the Japanese Consortium, JOIN and Mitsui will participate in the management of MPIC with the aim to create opportunities for Japanese companies to participate in the infrastructure businesses of MPIC group and contribute to infrastructure development in the Philippines and other Southeast Asian regions.

JOIN Supports the Comprehensive Infrastructure Operation Business in the Philippines