San Miguel Corporation (SMC) announced that it has signed, through a subsidiary, Rapid Thoroughfares Inc., a subscription agreement (Agreement) for a 35% stake in Private Infra Dev Corporation (PIDC), a consortium of construction companies behind the Tarlac-Pangasinan-La Union Expressway Project.
The Agreement is the most recent step in SMC’s strategic transformation to diversify from its core food, beverage and packaging portfolio, and marks its entry into infrastructure and tollways.