Expansion plans in the offing for San Miguel Corporation

San Miguel Corporation, Southeast Asia's biggest food and beverage conglomerate, may spend nearly P10 billion (over US$211 million) to expand its food and feeds facilities, as well as venture into new businesses like broadband service and water supply.

San Miguel president Ramon Ang said P4.89 billion will be earmarked to the expansion of Monterey's hog farms and another P3.37 billion to increase capacity of Magnolia Corporation's poultry farm.

Additionally, the company will soon provide broadband and high-speed Internet service using Meralco Broadband over Power Lines (BPL), said Ang.

Ang said the company, through wholly-owned unit San Miguel Bulk Water Co., has also submitted a US$1.2-billion proposal to the Metropolitan Waterworks and Sewerage System (MWSS) for the development of the Laiban Dam in Tanay, Rizal.