San Miguel Corp. To Propose $10-Billion Manila Airport


NAIA
Terminal 2 of Ninoy Aquino International Airport, home of Philippine Airlines

San Miguel Corp (SMC.PS), the Philippines’ most diversified conglomerate, is planning to present a proposal to the government soon for a new $10 billion airport in the capital, its president said on Tuesday.

Ramon Ang confirmed a Nikkei report that the company was set to present its plan for an alternative international airport in Manila next month. He confirmed the report in a text message to Reuters.

The group, which also owns a portion of flag carrier Philippine Airlines (PAL.PS), announced last year its intention to build a new facility to replace the ageing airport currently in used. It delayed the plan pending questions on state policy on airline companies operating airports.

(Reporting by Rosemarie Francisco; Editing by Paul Tait)

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