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.

Join ST's Telegram channel and get the latest breaking news delivered to you.