San Miguel Corp.(SMC) will revive its $10B proposed airport project to the incoming Duterte administration to solve air congestion and signal the Philippines is serious about boosting tourism and trade.
SMC president Ramon Ang said the plan would showcase a world-class international airport, earlier estimated to cost $10 billion but could be built for less, as well as a possible, unprecedented alliance with the country's biggest conglomerates that would include Manuel Pangilinan's group, Henry Sy's SM Group and Zobel-led Ayala Corp.
The proposed airport would eventually replace the old Ninoy Aquino International Airport in Manilathat is now operating beyond its intended capacity. The new airport would sit on 1,600 hectares of mainly reclaimed land in Manila Bay and was proposed teo years ago to the outgoing Aquino administration.
"There's really no other choice, Ang said. He said Sangley could cost up to $20 billion to build, while SMC's Manila Bay airport would require an equity of about $2 billion to $3 billion.
SMC president Ramon Ang said the plan would showcase a world-class international airport, earlier estimated to cost $10 billion but could be built for less, as well as a possible, unprecedented alliance with the country's biggest conglomerates that would include Manuel Pangilinan's group, Henry Sy's SM Group and Zobel-led Ayala Corp.
The proposed airport would eventually replace the old Ninoy Aquino International Airport in Manilathat is now operating beyond its intended capacity. The new airport would sit on 1,600 hectares of mainly reclaimed land in Manila Bay and was proposed teo years ago to the outgoing Aquino administration.
"There's really no other choice, Ang said. He said Sangley could cost up to $20 billion to build, while SMC's Manila Bay airport would require an equity of about $2 billion to $3 billion.
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