San Miguel's next target: Mactan airport terminal
MANILA, Philippines - San Miguel Corp. continues to spread its wings.
The diversified conglomerate will participate in the auction of the construction and rehabilitation of a new passenger terminal in the Mactan International Airport in Cebu, expanding its footprint in the air transport industry.
"Yes, we will join the bidding," confirmed San Miguel President Ramon Ang in a recent interview with reporters in Toronto where
San Miguel will compete with other big business groups -- Metro Pacific Investments Corp., Ayala Corp. and Aboitiz Equity Ventures -- in the infrastructure project at the second busiest and largest international gateway to the Philippines.
The Ayala and Aboitiz groups have previously forged an alliance to bid for the project, which was already approved by the National Economic and Development Authority (Neda) board last week for bidding on a certain date, which has yet to be set by the Transportation department.
According to the goverment, the Phase 1 of the Mactan, Cebu International Airport Terminal will be worth P17.5 billion, up from the previous P8 billion to P10 billion cost range. It will be completed between 2014 and 2016.
The project, which grants a 20-year concession, will involve the construction of a world-class passenger terminal building with capacity to carry 8 million passengers a year, as well as the operation and maintenance of the old and new facilities. It aims to minimize passenger delay by reducing passenger terminal waiting time.
Currently, San Miguel has several interests in air transport.
It owns 49% of Philippine Airlines and budget carrier Air Phillipines. It also operates the Caticlan airport, the gateway to tourist haven, Boracay island.
The conglomerate earlier announced plans to construct an international airport near Manila, but declined to disclose where exactly.
“Our plan to put up that airport is really serious and we hope to be able to do it soon. We will be presenting it to the government by January,” said Ang, adding that the Lucio Tan group will also participate in the project. - Rappler.com