AEV Aegon NV Perpetual Cap Secs (Netherlands)

   By Rhea Sandique-Carlos 
 

MANILA--Aboitiz Equity Ventures Inc. (AEV.PH) said Wednesday it has signed a memorandum of agreement for a joint venture with Gazasia Ltd. to develop waste-to-fuel facilities in the Philippines.

The facilities will convert organic waste material into a carbon-neutral, renewable fuel for vehicles in the form of liquid biomethane, the company said in a filing to the stock exchange.

Gazasia, a U.K.-based company, will provide technical expertise, specialized equipment and project management.

Aboitiz Equity, on the other hand, will provide funding for the project and access to markets in various parts of the Philippines.

Financial details and the timeline for the project weren't mentioned in the statement.

Write to Rhea Sandique-Carlos at rhea.sandique-carlos@dowjones.com