MIESCOR’s Tower Subsidiary MIDC Completes Transaction to Form One of the Largest Independent Tower Companies in the Philippines

Manila, Philippines – September 16, 2024 – 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 services.


About MIESCOR

MIESCOR is a wholly owned subsidiary of the Manila Electric Company (Meralco). With its unsurpassed experience and manpower strength of over 10,000, MIESCOR and its subsidiaries provide expertise in EPC, Distribution Utility and Pole Attachment Services, Telecommunications Services and Infrastructure, Logistics and Facilities Management, and Trading of high-quality electrical supplies and equipment. MIESCOR is one of the leading engineering and construction companies in the country, meeting global standards with its ISO 9001:2015 (QMS), ISO 14001:2015 (EMS), and ISO 45001:2018 (OSH) certifications.