outbrain
Close  

San Miguel pursues infra investments, capacity expansion

/ 04:00 AM July 01, 2020

Conglomerate San Miguel Corp. (SMC) will go full blast with high-impact investments in infrastructure and new manufacturing facilities,further scaling up its own portfolio while helping rebuild the wider economy during this economic recession induced by the new coronavirus pandemic.

“We are still dealing with a crisis today.Until there’s a cure for COVID19, we cannot let our guard down.We are determined to work smart and safe and do our part to help our economy,our country and people during this critical time,”SMC president Ramon Ang said during the company’s stockholders meeting on Tuesday.

ADVERTISEMENT

“The best way we can do this is to continue,and not scale back,on investments infra-structure and capacity expansion, as well as provide support for the poor, and other key sectors such as agriculture and the health industry,” Ang said.

Among SMC’s upcoming facilities are 12 feed mills of one million annual tons capacity each, expanded poultry farms and a poultry processing facility; new breweries in Cagayan de Oro and Santa Rosa in Laguna, the new unit of Masinloc Power Plant, and ongoing infrastructure projects such as: Skyway3 Skyway extension, Skyway4, MetroRailwayTransit7, and Tarlac-Pangasinan-La Union Expressway. Ang affirmed SMC’s determination to help the wider economy recover from the effects of the pandemic by pouring resources into creating jobs,helping the poor, building resilience among vulnerable sectors and increasing the nation’s capacity to test in order to save more lives.

FEATURED STORIES

This Friday, Ang reported that the group’s COVID-19 testing laboratory along Edsa Mandaluyong was set to open with the capacity of 4,000 confirmatory tests per day, expandable to 12,000 per day if needed. Ang added that all of SMC’s ongoing major projects—including the construction of new manufacturing facilities in various regions nationwide and major infrastructure projects such expressways, railways, and its proposed airport in Bulacan province—would go on as planned. “All our major, important projects will continue.

Before the pandemic, and even more so now, we believe these projects will be key to making more Filipinos resilient, by providing jobs and boosting local economies, which in turn will provide livelihood opportunities, ”Ang said. “With more manufacturing facilities in key regions that provide direct jobs and down-stream employment,infrastructure that increases mobility and ease of trade, and sufficient and reliable access to power and fuel, we hope to help our economy through this crisis and boost our nation’s recovery,” he added.INQ

For more news about the novel coronavirus click here.
What you need to know about Coronavirus.
For more information on COVID-19, call the DOH Hotline: (02) 86517800 local 1149/1150.

The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to be deposited at Banco de Oro (BDO) current account #007960018860 or donate through PayMaya using this link .

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, coronavirus, San Miguel Corp. (SMC)
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.