Philippines’ San Miguel Food & Beverage to spend $561.6 mln for expansion

Philippine-based San Miguel Food and Beverage Inc. (SMFB) plans to spend 30 billion Philippine piso ($561.6 million) through 2020 to expand its business portfolio.

SMFB said that it planned to spend $187.2 million for the next three years, including this year, to build manufacturing facilities for beer, animal feeds and flour, as well as venture into the ready-to-eat business.

A brewery is being constructed in Laguna province’s Santa Rosa City and another in Northern Mindanao. Once the facilities begin commercial operations by late 2019 and early 2020, respectively, each is expected to produce 2 million hectoliters of beer annually.

Also, SMFB plans to have five more feed mills. Two are expected to start production this year and the rest in 2019.