The Philippines on Wednesday approved a plan to construct a brand new airport near Manila, geared toward easing congestion because the capital’s existing airport operates at full capability.
Philippine conglomerate San Miguel will construct an airport in the town of Bulacan, north of Manila Bay, that can have 4 parallel runways and serve 100-200 million passengers a 12 months, in line with a government statement.
“This new international airport plays an important role in easing traffic congestion at Ninoy Aquino International Airport (in Manila),” Transportation Secretary Arthur Tugade said in a press release.
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The statement said San Miguel, which was the one company to bid on the project, would have to start out work on the $14 billion project by the tip of the 12 months and start operations no later than 2025.
The company said it plans to administer the airport, which can be the most important infrastructure project under President Rodrigo Duterte after obtaining a government concession.
Manila’s existing airport, which has two runways, handled nearly 260,000 flights and 45 million passengers last 12 months, in line with its website.
The announcement got here after the close of trading in Manila. San Miguel shares rose 1.19 percent to finish the session at 178.00 pesos ($3.50).
