PNoy, Ang meeting on San Miguel Corp. airport project reset

By Lorenz Christoffer S. Marasigan, BusinessMirror

Posted at Apr 30 2014 08:33 AM | Updated as of Apr 30 2014 04:33 PM

MANILA - The meeting between President Aquino and San Miguel Corp. (SMC) President and Chief Operating Officer Ramon S. Ang for the proposed $10-billion airport has been deferred to sometime next week, Ang said in a text message.

Ang was supposed to meet the President on Tuesday to discuss his firm’s plans to build an airport somewhere in the metropolis.

He declined to elaborate.

The plan is to build an airport that has double the capacity of the current Ninoy Aquino International Airport (Naia). It will boast of an 800-hectare land area with four runways and higher passenger capacity.

Naia only has a single-runway system in a 400-hectare land in Pasay City.

The air hub will be exclusively available for flag-carrier Philippine Airlines in the first few years when built. SMC owns a 49-percent minority stake in the carrier.

In March last year, Ang said his firm is shelving its plans on building its own airport amid the government’s policy of barring airline operators from engaging in the airport-management business.

The earlier proposed airport, which had a $6-billion value, would have been built under a three-year contract with potential South Korean contractors.