Duterte Greenlights $15.3 Billion of Airport, Rail Projects
- San Miguel’s $14.1 billion airport plan up for Swiss Challenge
- Railway, airport in former U.S. base also approved: Pernia
Photographer: Edwin Tuyay/Bloomberg
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A multi-billion-dollar proposal by San Miguel Corp. to build an alternative to the Philippine capital’s congested airport passed a crucial government hurdle, leading the list of approvals for more than a dozen projects.
San Miguel’s offer to invest 735.6 billion pesos ($14.1 billion) for an integrated airport project in Bulacan province north of the capital was approved by a Philippine inter-agency committee led by President Rodrigo Duterte. The proposal will be subject to a public challenge under local rules.