MIESCOR Infrastructure Development Corp. (MIDC) and PhilTower Consortium, Inc. are forming a joint venture aimed at enhancing network infrastructure and accelerating the rollout of wireless technology in the Philippines.
“The partnership of MIDC and PhilTower creates a powerhouse in the Philippine towerco industry which offers strategic advantages that will not only strengthen network infrastructure but also significantly accelerates the rollout of wireless technologies for mobile network operators…,” MIDC said in a statement on Monday.
Mobile network operators include Globe Telecom, Inc., Smart Communications, Inc., and DITO Telecommunity Corp.
“This development will play a critical role in supporting the nation’s digital transformation and expanding access to mobile broadband services,” the company said.
MIDC said that the joint venture company is one of the largest independent tower companies in the Philippines.
“The partnership of MIDC and PhilTower represents a significant step forward in enhancing the country’s telecommunications tower infrastructure,” said Richard Ochava, president and chief executive officer of Meralco Industrial Engineering Services Corp. (MIESCOR).
“By combining the strengths of the two organizations, we are creating a new standard for infrastructure efficiency and service excellence, bringing us closer to achieving nationwide connectivity,” he added.
Mr. Ochava said that this will not only improve network coverage and ICT (information and communication technologies) services but also have “a broader impact on the country’s socio-economic development” by fostering digital inclusion and empowerment especially in underserved areas.
MIDC is a joint venture established in 2022 between Meralco Industrial Engineering Services Corp. (MIESCOR) and Stonepeak. MIESCOR is the engineering, procurement, construction, and operations and maintenance unit of Meralco.
Meanwhile, PhilTower is a unit of Macquarie Capital, which is part of Australian investment bank Macquarie Group.
The new entity is owned by a consortium including MIDC’s existing joint venture partners MIESCOR and Stonepeak, Macquarie Capital, and Global Network, Inc.
MIESCOR, through its telecommunications business unit, is providing turkey and semi-turnkey build and maintenance services to the telecom industry operators.
These services include telecom tower site construction and maintenance, build and maintenance of wire and wireless telecom systems, and end-customer services and solutions. — Sheldeen Joy Talavera