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Manila Bulletin devider Business devider Former ICTSI exec joins Prime Infra board

Former ICTSI exec joins Prime Infra board

Published Jan 23, 2023 03:10 pm

Razon-led Prime Infrastructure Capital Inc. has named Martin O’Neil as a new addition into the company’s board of directors.

O’Neil was a former executive vice president and chief financial officer (CFO) of International Container Terminal Services Inc. (ICTSI), a flagship company of the Razon group that has been thriving on its global operations.

In a statement to the media, Prime Infra specified that O’Neil will be replacing Rafael “Joel” Consing Jr., who was recently appointed for a government post under the Office of Presidential Adviser on Investment and Economic Affairs Frederick Go.

Apart from his role as board director, O”Neil has also been designated as senior financial advisor to the management of Prime Infra.

According to Prime Infra Chairman Enrique Razon Jr., “Martin brings with him a depth of expertise to help execute Prime Infra’s strategic priorities in expanding the business, focusing on solidifying the company’s capital strength to maximize value for our stakeholders.”

Apart from Razon and O’Neil, others in the Prime Infra board are Guillaume Lucci,

Christian Gonzalez, Stephen Paradies as well as independent directors Danilo Feliciano and Panfilo Lacson.

Lucci, who is the President and CEO Prime Infra, considers O’Neil as “a great addition and a strong asset to the team,” adding that “with over 30 years of experience in senior leadership roles, Martin’s wealth of knowledge and insight will prove invaluable to the company’s finance and business operations.”

Prime Infra is eyeing to pursue its initial public offering (IPO) this year so it can raise funding for its pipeline of projects -- both in the energy and water sectors.

The recent big-ticket acquisition of Prime Infra has been the Malampaya gas field project, which is already at its depleting state – and the new operator is hoping that with fresh round of seismic survey and well drillings, additional gas may still be extracted from the field.

The Razon-led firm also secured a major power supply deal with utility giant Manila Electric Company (Meralco) for the delivery of 850 megawatts of mid-merit capacity that will be generated from pure renewables starting year 2026.

Related Tags

#PRIMEINFRA #BOARD #ICTSI #RAZON #MALAMPAYA #PSA
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