Conglomerate to sustain investments, expansions

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San Miguel Corp. is not scaling back on its investments and capacity expansions in the Philippines as it anticipates the economy will soon bounce back from the disruptions caused by the new coronavirus disease 2019 (COVID-19) pandemic.

“We are still dealing with a crisis today. Until there’s a cure for COVID-19, we cannot let our guard down. Nevertheless, we are determined to work smart and safe and do our part to help our economy, our country and people during this critical time,” said Ramon Ang, San Miguel president.

Ang added: “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.”

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He said lessons from the lockdown had been incorporated into San Miguel’s operating model and that it “stands to benefit from an enterprise-wide ability to absorb the kind of pressure and uncertainty that has been our everyday work diet since the pandemic started.”

“With more manufacturing facilities in key regions that provide direct jobs and downstream 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,” Ang said.

Among the new facilities the company is completing 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 Sta. Rosa in Laguna, the new unit of Masinloc Power Plant, and ongoing infrastructure projects such as: Skyway 3, Skyway Extension, Skyway 4, MRT-7, and TPLEX, according to Ang.

San Miguel in the middle of 2019 tapped global firms Groupe ADPi, Meinhardt Group and Jacobs to design and build its proposed $15 billion New Manila International Airport in Bulacan.

“We’re full steam ahead with our expansion efforts. We are still pursuing our plans to build the airport,” Ang said at San Miguel’s shareholders meeting Tuesday.

“Our major businesses are well-positioned to make recoveries, especially with the lifting of restrictions starting June. Since May, we have been seeing a recovery. We’ve lost no time in working to regain our position and doubling our efforts to serve consumers,” Ang added.

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