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Article: Philippines : San Miguel May Spend $2 Billion on Infrastructure.
- Article from:
- TendersInfo
- Article date:
- September 2, 2009
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Byline: pinto03
San Miguel Corp. may spend as much as $2 billion on acquisitions as the Philippines biggest food and drinks maker accelerates its transformation into a holding company with interests in industries such as energy and mining.
The maker of San Miguel Beer plans to invest maybe up to $2 billion in infrastructure projects and power plants, President Ramon Ang said in a Bloomberg TV interview. The Manila-based company that yesterday reported quarterly profit was boosted sixfold by asset sales plans to invest $350 million in a power plant, Ang told reporters today.
San Miguel has raised about 98 billion pesos ($2 billion) this year ...