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GSIS, local banks pour P100 billion into San Miguel’s MRT7 project

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San Miguel Corporation secures a P100-billion syndicated loan deal with four local banks and the GSIS for the construction of the remaining segments of the MRT7.

MANILA, Philippines – The infrastructure unit of San Miguel Corporation , which is building the Metro Rail Transit Line 7 , secured a P100-billion syndicated loan deal with a consortium of Philippine banks and a state insurer.

“We are happy to have achieved this milestone. It reflects the confidence that our partner banks have in the government’s vision for progress, and our ability to execute on vital projects that are critical to the country’s social and economic development and growth,” SMC president and chief executive officer Ramon Ang said.

 

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