Philippines' San Miguel says to propose S$12.7 billion Manila airport

MANILA (REUTERS) - San Miguel Corp, the Philippines' most diversified conglomerate, is planning to present a proposal to the government soon for a new US$10 billion (S$12.7 billion) airport in the capital, its president said on Tuesday.

Ramon Ang confirmed a Nikkei report that the company was set to present its plan for an alternative international airport in Manila next month.

He confirmed the report in a text message to Reuters.

The group, which also owns a portion of flag carrier Philippine Airlines, announced last year its intention to build a new facility to replace the ageing airport currently in used.

It delayed the plan pending questions on state policy on airline companies operating airports.