Meralco Industrial Engineering Services Corporation (MIESCOR), the Engineering, Procurement, Construction, and Operations & Maintenance Unit of the Manila Electric Company (MERALCO), proudly announces that MIESCOR Infrastructure Development Corporation (MIDC), a joint venture between MIESCOR and Stonepeak established in 2022, and Phil-Tower Consortium Inc. (PhilTower) have completed a transaction to form one of the largest independent tower companies in the Philippines.
This new entity is owned by a consortium of reputable global and local investors that includes MIDC’s existing joint venture partners MIESCOR and Stonepeak, in addition to Macquarie Capital, and Global Network Inc.
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 (MNO) including Globe Telecom, Inc., Smart Communications, Inc., and DITO Telecommunity Corporation. This development will play a critical role in supporting the nation’s digital transformation and expanding access to mobile broadband
Richard O. Ochava, President and Chief Executive Officer of MIESCOR, commented on the successful completion of the transaction: “The partnership of MIDC and PhilTower represents a significant step forward in enhancing the country’s telecommunications tower infrastructure. 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. This move will not only improve network coverage and ICT services but also have a broader impact in the country’s socio-economic development by fostering digital inclusion and empowerment, especially in underserved areas.”
MIESCOR, through its Telecommunications Business Unit, is providing full turnkey 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 wired and wireless telecom systems, and end customer services and solutions. MIESCOR remains committed to supporting the partnership of MIDC and PhilTower as they connect more Filipinos to the future of mobile broadband technologies and help propel the country toward a more inclusive and tech-driven economy. MIESCOR Infrastructure Development Corporation and Phil-Tower Consortium Inc.’s partnership
