San Miguel Corporation (SMC) will spend $300 million to build a new brewery and bottling plant in Cagayan de Oro City on Philippines’ second largest and southernmost major island Mindanao and expand its existing facility in Sta Rosa in Laguna.
The new Cagayan de Oro plant is designed for an initial capacity of one and a half million hectoliters and the possibility to expand to 3 million hectoliters annually. Works are projected to start soon. The expansion of the existing 1 million hectoliter capacity of the Sta Rosa plant to 2 million hectoliters will be undertaken in two years' time, as SMC president and COO Ramon Ang told the press.
Domestic operation led the growth of SMC as volume grew by 19 million cases, with revenues in the domestic market of P60.6 billion ($1.2 billion) and P8.8 billion ($0,2 billion) internationally. The Philippines, with a population of 101 million people in 2015, ranked last year among the fastest-growing economies in the world, even outperforming economies such as China, Vietnam and India.