February 03, 2013

$35 Billion Investment Plan Set by San Miguel

Expansion of Philippine Airlines, Power Plant that will generate 3000MW of electricity across Luzon and Mindanao, Toll way Projects mainly Tarlac-Pangasinan-La Union Expressway and South Luzon Expressway, Mining, and upgrade of Petron’s refinery and petrochemical plant in Bataan.

All cost of approximately $35 billion US dollars. Those mentioned projects above are the following investment plans of San Miguel Corporation, the biggest corporation in the Philippines. These plans are expected to be done before the end of President Benigno "Noynoy" Aquino III's term by 2016.

But among those mentioned plans, the company that will benefit the most is the PAL (Philippine Airlines) where San Miguel Corporation holds a 49 percent stake along with management control.

San Miguel President Ramon Ang said "Our total investments planned for PAL will be around $10 billion". Big percentage of the money will spend on new aircraft. He also added that they will be concentrating on adding new aircraft to make PAL more competitive against any airline in the world.

According to inquirer.net, a total of 18 new passenger planes are about to arrive on August 2013 that includes eight Airbus A321s, two Boeing B777-300ERs, and eight Airbus A330s. Those are big planes powered by advanced aircraft technology. Ang also said that 2013 will be a big year for PAL and its showing a great promise.

San Miguel is also waiting for the approval of the Government in regards with building a new international airport that would add another $10 billion to the PH economy.

Another Priority projects are power plants and the expansion of Tarlac-Pangasinan-La Union Expressway and South Luzon Expressway. Adding another 3000MW of power plant will cost $6 billion.

A total of $8.5 billion will be used for mining upgrading the mining projects of San Miguel.

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