SINGAPORE - San Miguel Corp. plans to raise $1 billion by selling stakes in its food, packaging and liquor businesses to fund the Philippines' biggest food and drinks maker's growth and acquisitions, Bloomberg reported.

The proceeds would be used to speed up a $2 billion expansion into infrastructure, energy, telecommunications and mining,

President Ramon Ang, 56, said in an interview with the news agency. "We are interested in anything that will add value. This company will fly," he was quoted as saying in the report.

The Philippines food-to-infrastructure conglomerate has been aggressively moving out of its core food and drinks business and into heavy industry, including power, infrastructure and mining.

The asset sales would increase the amount Ang and San Miguel chairman Eduardo Cojuangco have raised since 2007 to $6 billion.

The Manila-based company, which has made San Miguel beer for more than a century, has offers for its hotdog maker, packaging unit and gin distillery, Ang said in the interview, adding the company has $2 billion it can spend on expansion and acquisitions within a year.

San Miguel will announce "soon" the acquisition of gold, copper, nickel, iron and lead assets for its venture into mining, said Ang, who was named president in March 2002.

San Miguel has received offers for 49% each of canned-meat and hotdog maker San Miguel Pure Foods Co. and its packaging business, Ang said. The company plans to sell its Ginebra San Miguel Inc. gin maker to its San Miguel Brewery Inc. unit, he said.

The brewery is "not available" for sale, Ang said. Kirin Holdings Co, which owns 48% of San Miguel Brewery, said this month it was interested in acquiring a majority if its parent was willing to sell.

San Miguel, which has acquired 2,000 megawatts of generating capacity in the past year, plans to build 3,000 megawatts of capacity in three to five years and may also buy power distributors, Ang said. The company will also bid for state-owned power plants.

Ang said the company's planned infrastructure projects include a tollway and railway that will run from the north to south end of Luzon, the nation's biggest island, a commuter train in Manila and expansion of an airport serving Boracay Island.

"Within a year we will probably be done with our diversification strategy," Ang said. "It has to be that fast. The share price doesn't reflect the true value of San Miguel."