Philippines airport bidding heats up

Philippines airport bidding heats up

The bidding war between two of the Philippine’s richest men to build Manila’s new international airport heated up in February with both tycoons submitting increased bids.

In response to a new bid by billionaire Henry Sy, the San Miguel Corp headed by Ramon Ang proposed a USD14 billion plan which will not require any subsidy from the government.

The design submitted to the Philippines Department of Transport includes six runways spread across a 2,500 hectare plot and allows the government to sell the current 600 hectare airport and use the money to develop the land.

“We will finance everything, build everything by ourselves and take the risk,” San Miguel Group President Ramon Ang told Deal Street Asia.

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