SMC willing to partner with major conglomerates for $10-B airport
MANILA, Philippines - San Miguel Corp. (SMC) is open to partnering with other major conglomerates in the country to put up a $10-billion international airport at a reclamation project in Manila Bay.
SMC chairman and chief operating officer Ramon S. Ang said the diversified conglomerate would invite Philippine companies including Ayala Corp., the SM Group of retail and banking magnate Henry Sy, and even budget carrier Cebu Air Inc. (Cebu Pacific) of taipan John Gokongwei.
“Yes definitely, I will invite Filipino companies. Filipino companies are all world-class including ShoeMart (SM), Ayala, or Cebu Pacific,†Ang said.
Ang, who is also president and chief operating officer of Philippine Airlines (PAL), said the proposed international gateway that would be situated in a 1,600-hectare property owned by CyberBay Corp. at the boundaries of Las Piñas and Parañaque along the Manila-Cavite expressway (Cavitex) would need at least $2 billion to $3-billion equity.
“To build that you need at $2-billion to $3-billion equity,†he added.
Ang met with President Aquino and other Cabinet members led by Transportation and Communications Secretary Joseph Emilio Abaya in Malacanang last Wednesday where the proposed $10-billion airport was presented.
SMC plans to build a new viable, modern, and high capacity airport with four runways on reclaimed land along Manila Bay . The proposed airport could handle 75 million passengers per year with scalability to cater to more than 100 million passengers per year.
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