Hot competition for Philippines airport build

• Proeksa Meas
• 1 February 2017
• Uncategorized
• 2437 Views

Two of the richest men in the Philippines are competing to develop a new international airport in the capital, Manila.

On one side is Belle Corp, part of Henry Sy’s SM Group which is proposing a USD50 billion joint venture with China Communications Construction Co (CCCC). The plan aims to reclaim 2,500 hectares and develop an airport and economic zone at a former US naval station south of Manila.

On the other is Ramon Ang from San Miguel Corp’s which submitted a USD10 billion proposal in 2014 to develop and operate the airport on reclaimed land in Manila Bay. San Miguel owns 49 percent of Philippine Airlines.

Final approval is expected to be given by Philippines President Duterte.