San Miguel Supports PH Accelerated Infrastructure Projects With P205-B

MANILA, Philippines – Conglomerate San Miguel Corporation (SMC) supports Philippine growth by allocating P205 billion to two big-ticket infrastructure projects this year.

SMC Chief Finance Officer and Treasurer, Ferdinand Constantino, stated the conglomerate has P205 billion worth of projects during BDO-Nomura forum on Monday night.

SMC claims to support the President Rodrigo Duterte’s goal to accelerate infrastructure efforts. Duterte administration recently claimed to consider infrastructure projects as priority through Department of Budget and Management Secretary, Benjamin Diokno.

Relatively, the conglomerate submitted the new airport’s unsolicited proposal to the administration. President of SMC, Ramon Ang, brought up the matter to the President Duterte. SMC looks forward for the leader’s decision.

Constantino cited San Miguel projects include Pagcor City-airport terminals expressway, Boracay-Caticlan airport expansion, Skyway Stage 3, MRT 7, and South Luzon Expressway extension.  Skyway Stage 3 alone is valued at P45 billion. The infrastructure project will connect South Luzon and North Luzon expressways.

The first project connecting Ninoy Aquino International Airport (NAIA) terminals to Pagcor City has opened. Initial portion is now being used by motorists to reach Macapagal Boulevard from NAIA Terminals 1 and 2. MRT 7 construction and South Luzon Expressway expansion are also ongoing.

Duterte administration’s goal is to pursue the golden age of Philippines’ infrastructure. At present, Laguna Lakeshore Expressway and North-South Railway projects are included in P1.4 trillion PPP projects.

Apart from SMC, DMCI also expressed support to the government’s efforts in improving the country’s infrastructures.

Nonetheless, the conglomerate raised the need for better project bidding system. DMCI Chairman and President, Isidro Consunji stated cutting down projects in parcels should be avoided. Instead, plans should be adjured as a system for faster completion.

Government usually bids its projects separately. DMCI stated that it hampers quick construction and solving country’s issues like traffic. The conglomerate offers help in implementation if simultaneous construction of projects pushes through.

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Stock Signals Philippines

Online Stock Market News Media at Equilyst Analytics, Inc.
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.
Stock Signals Philippines
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About the Author
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.

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