San Miguel Corp. said it plans to start the construction of Skyway Stage 4―a 58-kilometer expressway that will begin at the existing Skyway to San Jose del Monte City in Bulacan province via C5.
The conglomerate said it was one of the projects that were part of strategy to invest in new growth sectors while strengthening core businesses, ten years after its diversification into high-growth industries from being a food and beverage conglomerate.
San Miguel said in an annual report that would be presented during the annual stockholders’ meeting Tuesday it would continue to add scale to new businesses by building additional power plants and toll roads.
The conglomerate said that over the next there years, its toll road network was expected to reach 308 kilometers, accounting for 54 percent of the country’s total road network, up from the current 48 percent.
The conglomerate said it would also begin work on South Luzon Expressway Tollroad 4―a 57-km, four-lane toll road that will extend the existing South Luzon Expressway from Sto. Tomas, Batangas to Lucena City in Quezon province.
It is also currently in the process of constructing Skyway Stage 3, the remaining section of Tarlac-Pangasinan-La Union Expressway, the modernization of the Boracay Airport and construction of the Metro Rail Transit Line 7 and the Bulacan bulk water projects.
San Miguel said it would also expand its core business. Units San Miguel Brewery Inc. and San Miguel Pure Foods Company Inc. started executing their respective expansion programs.
This involves the construction of new facilities and new manufacturing lines in key regions across the Philippines.
San Miguel said the diversification into new sectors like power, infrastructure, oil refining and petrochemicals made it more resilient and more profitable.
San Miguel registered record consolidated revenues of P685.3 billion and operating income of P99.7 billion in 2016. Net income reached P52 billion, up by 80 percent from 2015.
“Today, our portfolio is a healthy balance of businesses that expand our revenue stream and overall impact on our markets. Through our products and services, we help people make the most of their lives,” San Miguel said.
12 June 2017
By Jenniffer B. Austria