BY UNICAPITAL SECURITIES
San Miguel Corp. (SMC) plans to accelerate its investment plan over the next three years even as other business groups take their foot off the gas pedal while waiting for clearer signals ahead of next year’s presidential elections.
Over the next two or three years, its combined capital expenditures will reach about PHP 360.0 billion across the company’s entire group.
On top of San Miguel’s list is an aggressive expansion program for Petron Malaysia, which will see the third-largest petroleum firm in that country boost its oil refining and distribution businesses.
The existing refinery will entail an investment of at least $1.5 billion, while its 560-strong gasoline station network will be boosted by another $500.0 million in a spending program spanning three years.
San Miguel’s power-generation business was also bent on building more plants and completing those that were under way.
These include the 900-MW plant in Bataan, the 300-MW plant in Davao and another in 600-MW in Cebu.