CONGLOMERATE San Miguel Corp. and Jakarta-based Citra Group is building up a war chest worth $1 billion for infrastructure projects in the Philippines and Indonesia, with the aim of becoming Southeast Asia’s biggest toll road player.
San Miguel Corp., in partnership with the Citra group of Indonesia, is wrapping up a deal to take over the 35.9-kilometer South Luzon Expressway, putting the tandem in charge of a vital artery in the metropolis.
The Citra group announced on Thursday that it will jointly study with partner San Miguel Holdings (SMH) Star Tollway’s proposal to allow them to participate in the upgrading and expansion of its 42-kilometer toll road concession that starts at Santo Tomas and ends near the Batangas Port.
