San Miguel Corporation is reportedly set to secure a contract for the construction of a $15bn airport in the Bulacan province of the Philippines after no other company came forward to challenge its bid.
The new airport is proposed to have a terminal capacity of 100 million passengers per year. It will feature four parallel runways and a toll road linking the airport to the motorway.
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The Philippines’ Transportation Department plans to issue a notice to proceed with the project by the first week of September, which will pave the way for ground-breaking.
Transportation undersecretary Ruben Reinoso reportedly told Bloomberg in a text-message that the technical working group review would proceed as there are no other bids that need to be evaluated.
San Miguel president and COO Ramon Ang was quoted by Bloomberg as saying that the airport would be constructed “at no cost to government and with no subsidies or guarantees of any kind,”
San Miguel will build and operate the new airport in the province.
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By GlobalDataThe company was previously the largest shareholder of Philippines Airlines.
According to statistics from the Manila International Airport Authority, the airport welcomed 45 million passengers in 2018, a 7% increase from the previous year.
Arriving and departing international travellers increased to 22.9 million last year, compared to 20.9 million in 2017.
The Philippines’ National Economic and Development Authority (NEDA) Board approved the proposal in April 2018.
