Pursuits
San Miguel Proposes $10 Billion Airport Off Manila Bay
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San Miguel Corp. offered to build a $10 billion airport off Manila Bay that will include portions already reclaimed by Cyber Bay Corp., a property developer. Shares in Cyber Bay jumped.
The Philippines’ largest company will need as much as 1,600 hectares (6.2 square miles) to build an airport with four runways capable of handling 150 million passengers annually, San Miguel President Ramon Ang said yesterday. Cyber Bay has already reclaimed about 157 hectares, he said in a mobile-phone text message.