San Miguel Corporation (PSE: SMC) has once again expressed interest to build a new international airport through the unsolicited public-private partnership (PPP) scheme.
SMC to bid for new airport
In a statement on Monday, SMC chief finance officer Ferdinand Constantino announced the conglomerate is keen on submitting an unsolicited bid for a new airport.
“As a matter of fact, our president has already brought to the attention of the government (that) we’re willing to put up a new airport,” The Philippine Daily Inquirer quoted Constantino as referring to SMC President Ramon Ang.
A revival of rejected airport bid
In 2014, Ang submitted a proposal to the Aquino administration to construct s $10 billion (P484.93 billion) international project along the Cyberbay reclamation area along Manila Bay. However, the proposal was turned down and was only revived when the Duterte administration took over in June.
If approved, the airport will be situated in between the Sangley Point Airport and the Entertainment City on Macapagal Boulevard, Business Mirror reported. The plan, which would showcase a world-class international gateway, complements the government’s initiative to boost tourism and trade in the country.
SMC partners with other companies
On the other hand, Constantino explained that SMC is willing to partner with other parties to ensure, should the plan be approved, that it will be a success.
This echoes the earlier statement of the SMC President saying, “If San Miguel were allowed to do the airport, I will invite Manny Pangilinan, and Ayala and Shoemart (SM Group). All of them are welcome to be partners,” noting that he would tap the PLDT Inc. chairman as a major partner.
Other SMC Projects
Aside from the new airport plan, Constantino also disclosed other ongoing projects of the San Miguel group which are estimated to cost up to P205 billion. The pipeline included the completion of the 7.75 km (kilometer) NAIA Expressway (NAIAX) project; modernization of the Boracay airport in Caticlan; and the construction of the P45 billion Skyway Stage 3.
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