Philippines firm seeks oil, gas abroad; to build airports

“It does not matter where, as long as it is viable and is a big company with big volume, we will be interested in investing in coal companies, (and) for oil and gas,” San Miguel president and chief executive Ramon Ang told AFP.

In an interview, Ang said Southeast Asia's largest food and beverage company was also looking to invest in more major infrastructure projects in the Philippines, such as airports.

Ang has over the past year led the domestically listed firm's diversification drive with multi-billion-dollar acquisitions in local power firms, oil refining and retailing, telecommunications and toll roads.

San Miguel last month won the right to sell the output of the country's largest coal-fired power plant, with a capacity of 1,000-megawatts, in Sual and bought a 620-megawatt power plant on Manila Bay for a combined 1.085 billion dollars.

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