San Miguel Corp. may invest in a $450 million project that will supply water to Manila and neighboring towns and cities, BusinessMirror reported, citing Ricardo Penson, the company’s prospective partner in the venture.
San Miguel has an informal agreement to take a majority stake in Penson’s water company should it get approval to develop the project, the report said, citing Penson.
San Miguel President Ramon Ang hasn’t responded to a text message on his mobile phone seeking comment.
