San Miguel Corp. said yesterday it would take a "significant" stake in a toll road project as it diversifies beyond its core brewing business. San Miguel told the Philippine Stock Exchange it signed a "non-binding agreement to acquire a significant stake of the Private Infrastructure Development Corp." consortium behind the $312.5-million (U.S.) highway project in the northern Philippines. In the past year, the company has also taken a significant stake in Manila Electric Co., oil refiner Petron Corp. and is undertaking a joint venture with Qatar Telecom. SMC (Makati) rose 85 centavos to 60 pesos ($1.39).