SMC bullish on food, power and infra
MANILA -Billionaire Ramon Ang-led San Miguel Corp. (SMC) pledged new investments in food, energy and infrastructure while outlining the need to build an “integrated supply and value chain” to help sustain profitability and the country’s economic growth.
Ang, the president and CEO of SMC, told stockholders during their annual meeting on Tuesday the conglomerate is keen on boosting food and beverage capacity as demand outpaces available supply.
“We plan to build several mega poultry plants in strategic locations nationwide over the next 10 years. This will bring down logistical costs, making food products more affordable for consumers,” Ang said.
“Our expansion efforts in the poultry segment will help safeguard against supply shortages and provide more stable pricing. With modern processes and technologies, we can also ensure higher levels of safety and quality, and better animal health and protection,” he added.
Last year, San Miguel Foods began the construction of a new food complex in Davao that will have grains storage, feed mill, flour mill, processed meat, and poultry facilities, including a broiler and breeder farm and hatchery.
“This is part of our larger push to boost food security nationwide, which started with the expansion of our beer, feeds, value‐added meats, ready‐to‐eat, and logistics businesses in the last couple of years,” Ang said.
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Energy
Energy and fuel security are also critical in the company’s list of investment priorities, the tycoon said.
San Miguel Global Power earlier announced plans to complete 610 megawatts of the total 1,000-MW target capacity of its nationwide Battery Energy Storage System by the end of the year with the remainder to be completed in 2024.
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It will also expand its liquefied natural gas (LNG) capacity.
“We’ve already made significant progress in ramping up our LNG capacity. Construction of our 1,313.1 MW Batangas combined cycle power plant is ongoing and is set for completion by 2024,” Ang said.
“Given our 2050 net zero goal—outlined in our 2022 sustainability report—our strategy starts with increased investments in transition technologies and reconfiguring our coal facilities to accommodate alternative fuels,” he added.
SMC is ramping up investments in transport infrastructure as it aims to achieve “substantial completion” of land development activities at its P740 billion New Manila International Airport in Bulacan province by December 2024.
“[W]e are looking to jumpstart other work streams, such as the terminal and runways, by early next year,” Ang said.
“Among the things that will truly set the NMIA project apart is its accessibility and connectivity— with planned infrastructure projects designed to provide direct access to the airport and seamless interconnectivity between provinces,” he added.
More toll roads
SMC, which operates toll roads such as the South Luzon Expressway and Skyway, also received regulatory clearance to proceed with more roads.
Four San Miguel toll roads now in design phase
These are the P148 billion Northern Access Link, which will link the Skyway 3 to the NMIA, and the P152 billion Southern Access Link, which will “decongest EDSA and other major roads, and will provide a direct connection to the NMIA from Manila, Makati, and Quezon City, complementing the existing Skyway system.”
