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Filipino San Miguel Corp invests $34bn in three construction projects

CHARLOTTE DIVET - CONTRIBUTING EDITOR, LE 4 AVRIL 2017

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Filipino San Miguel Corp invests $34bn in three construction projects

The multinational conglomerate holding company, well-known for its beer, plans to build an oil refinery, an integrated steel complex and an ocean-tide power plant in Philippines.

San Miguel Corporation‘s announcement has been relayed few days ago with well-defined projects.

Ramon S Ang, the president and COO of the company has the willing to build an oil refinery with 250,000 barrels a day capacity that may produce as well petrochemicals and aromatics. The second construction project concerns an integrated steel mill. Both of them are expected to cost around $15bn each.

The company also plans to set up an ocean-tide 1,200 MW power plant at $3.6bn.

The projects would be completed in three to five years.

Image credit - Petron

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