BUSINESS

By Jenniffer B. Austria

CONGLOMERATE San Miguel Corp. plans to invest more in its core food and beverage business, infrastructure and energy projects to ensure the company’s long-term profitability, a top executive said Tuesday.

San Miguel president and chief executive Ramon Ang said in a message contained in the company’s annual report the group plans to build several mega poultry plants in strategic locations across the country over the next 10 years. Ang said this move would bring down

DOE: Energy-efficiency investments hit P6.8b

THE Department of Energy said Tuesday its Energy Utilization Management Bureau recorded about P6.8 billion worth of energy efficiency investments from 2021 to 2022. EE investments include projects such as new installation, upgrading, or retrofitting specific equipment or devices such as lighting retrofit, automated lighting control system or smart control system, heating, ventilation and air-conditioning upgrades, boiler replacement and other similar devices or equipment.

The DOE said the investments are based on the Annual Energy Efficiency and Conservation and Annual Energy Consumption Reports submitted by the designated establishments for the compliance period of 2021-2022. These establishments include private entities in the commercial, industrial, transport, power, agriculture, public works and other sectors identified by the DOE as energy-intensive industries based on their annual consumption from the previous year.

“I am very pleased that our DEs are moving forward on EEC. These accomplishments bring multiple benefits for the companies such as enhancing the sustainability of the energy system, supporting strategic objectives for economic and social development, promoting environmental goals and increasing prosperity,” said Energy Secretary Raphael Lotilla. Alena Mae S. Flores

FDI net inflows declined

30% to $548m in March

NET inflows of foreign direct investments declined by 30.7 percent in March to $548 million from $792 million in the same month last year as global uncertainties impacted investors’ sentiments, the Bangko Sentral ng Pilipinas said Tuesday.

“The said decline resulted from lower net inflows across all major FDI components amid investor concerns over subdued global growth prospects,” the BSP said in a statement.

Equity capital placements originated mostly from Singapore, Japan and the United States. These were directed mainly to the manufacturing, information and communication and real estate industries.

Data showed that in the first quarter, FDI net inflows also decreased by 19.6 percent to $2.0 billion from $2.5 billion a year earlier.

Net FDI inflows contracted by 23.2 percent in 2022 to $9.2 billion from the record $12 billion achieved in 2021.

The BSP expects net FDI inflows to settle at $11 billion this year. Julito G. Rada

Silang (Aguinaldo) segment of Calax now 80% finished

METRO Pacific Tollways South said the construction of the Silang (Aguinaldo) segment of the Cavite Laguna Expressway is now 80-percent completed.

Once operational, MPT South said this section would provide a crucial connection to the Aguinaldo Highway, the busiest highway in Cavite.

This development will greatly enhance travel convenience to Silang town and Tagaytay, making it easier for tourists to reach ‘Instagram-ready’ destinations in the province.

The Calax operational segment stretches from Mamplasan in Binan, with interchanges at Laguna Technopark, Laguna Boulevard, Santa Rosa-Tagaytay Road and up to Silang East Interchange.

The entire 45-kilometer Cavite-Laguna Expressway is expected to be completed by 2024. Darwin G. Amojelar logistics cost, prevent supply shortage and provide more stable pricing.

“This is part of our larger push to boost food security nationwide, which started with the expansion of our beer business, value-added meats, readyto-eat and logistics business in the last couple of years,” Ang said.

He said for the power generation business, San Miguel Global Power would increase its investments in transition technologies and for the reconfiguration of coal facilities to accommodate alternative fuels.

SMGP expects to complete by end2023 about 610 megawatts of the total 1,000-MW target capacity of the battery energy storage system. The rest will be completed by 2024.

Ang said the group’s first solar power project is also in the pipeline and targeted for commercial operations in the next few years.

SMC is expanding its liquefied natural gas facility, with the construction of the 1,313-MW Batangas combined cycle power plant ongoing. The project is set for completion by 2024.

Ang also reported that land development of the P740-billion New Manila International Airport was now over 55-percent completed.

“We expect substantial completion of the land platform by December 2024, and we are looking to jumpstart other work streams such as the terminal and runways by early next year,” Ang said.

The world-class airport, spanning over 2,500 hectares in Bulakan, Bulacan, will be developed in phases, with an initial capacity of 35 million passengers annually and a target of 100 million