San Miguel Corp to up investment spend

 San Miguel Corp to up investment spend
21 September 2015

Philippine conglomerate San Miguel Corp said on Monday it is raising planned investment in cement manufacturing to almost US$1bn with the addition of three new cement plants to two previously announced facilities.

President Ramon Ang outlined the investment at a briefing following the listing of San Miguel's PHP33.5bn (US$720m) worth of newly issued preferred shares.

Ang said in July San Miguel was building two cement plants, worth US$800m, expected to be completed in 2017. (Source: Reuters)

Published under Cement News