San Miguel Corp.'s (SMC) fuel affiliate Petron Corp. will plunk in an additional PHP 3 billion for its refinery facility in Limay, Bataan after its application as one of the registered enterprises of the Freeport Area of Bataan was granted approval from the Authority of the Freeport Area of Bataan (AFAB). Petron's investments will be alloted to the project within five years when more jobs are expected to be created for residents of Limay and nearby municipalities. The AFAB registration of the refinery facility of the Company will help make its refining business more competitive by improving its financial viability in the long run and address some of its major concerns. As part of its commitment to AFAB, the Company is expecting to undertake in the next five years several capital investments amounting to nearly PHP 3 billion to further improve the efficiency of the integrated operation of its Petron Bataan Refinery. As previously disclosed on December 14, 2020, considering that the refining business remains challenging both here and around the world, the plan for the refinery to undergo an economic plant shutdown early this year will still proceed.