Manila: Top Philippine conglomerate San Miguel is seeking to build a new international airport for Manila in a project worth $10 billion (Dh36.7 billion), the company confirmed Thursday.
San Miguel, which owns a stake in flag carrier Philippine Airlines, told the Philippine Stock Exchange (PSE) in a disclosure that reports of its bid to build the four-runway hub in Manila Bay were “accurate”.
Airlines are frustrated with heavy congestion and other woes at Manila’s existing international airport, which has been named the worst in the world for two years running by an online travel guide.
The company did not disclose the exact location of the planned new Manila international airport.
It has been reported that the proposed international aviation gateway will be built on reclaimed land off Manila Bay or at the former Sangley Point Naval Air Base, which will converted into a commercial airport to be linked to Manila via an expanded coastal freeway.
The SM Mall of Asia, the third-biggest in the world after South China Mall and Jin Yuan, stands on reclaimed land in Pasay City, near the existing Ninoy Aquino International Airport.
Many of Manila's iconic cultural destinations are built on reclaimed land off the bay area.
