MANILA – The Department of Transportation and a unit of San Miguel Corp signed on Wednesday the concession agreement for the building of the new Bulacan International airport.

SMC’s San Miguel Aerocity Inc and the DOTr formally signed the deal after Ramon Ang's firm received the notice of award for the P735-billion project in August.

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The airport will be fully owned by the government under a “build-operate-transfer” program, SMC president Ramon Ang said.

The new airport located in Bulakan, Bulacan is a “catalyst” for economic growth as it is expected to bring 35 million tourists annually, more than 1 million jobs, increased foreign direct investments and higher exports, SMC said.

“I think this is the most meaningful project of our country. Pagtulungan po natin gawin ito sapagkat gaganda ang buhay ng mga kababayan natin… Ito ay para sa bayan...gobyerno po ang may ari nito at makikinabang po tayong lahat dito,” Ang said during the signing ceremony.

San Miguel earlier said it tapped the designers and builders of Singapore's Changi and France's Charles de Gaulle for the project.

The Bulacan airport will help decongest the Ninoy Aquino International Airport and the traffic in Metro Manila.

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