Skyway Stage 3 and 4

Manila (Philippine Daily Inquirer/ANN) - Conglomerate San Miguel Corp. (SMC) and Jakarta-based Citra Group is building up a war chest worth US$1 billion for infrastructure projects in the Philippines and Indonesia, with the aim of becoming Southeast Asia's biggest toll road player. At a briefing yesterday, Citra Group chair Shadik Wahono said the company planned to form a joint venture with San Miguel that would eventually go public, either through an initial public offering (IPO) in the Philippines or through the issuance of toll road asset-backed securities called Business Trusts in Singapore. The new holding firm, which has yet to be named, will handle both groups' extensive toll road assets in Indonesia and the Philippines. "The consortium's balanced mix of revenue-producing mature assets and strong development projects gives bright prospects for its future," Wahono said. "Its focus on toll road infrastructure in the Philippines and Indonesia-with their large po…
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