San Miguel Corp. expects to start the construction of the P735-billion Manila International Airport in Bulacan province in December this year after the Transportation Department signed the notice to proceed for the new international gateway.
“I believe the groundbreaking would be before the end of the year or December,” San Miguel president and chief operating officer Ramon Ang said during the signing of the concession agreement on the Bulacan airport.
Ang’s statement came after Transportation Secretary Arthur Tugade announced that he signed the notice to proceed for the construction of the new airport.
“This airport would be a game-changer for the industry and for our economy,” Ang said.
“This is our single largest contribution to the Philippine economy and our biggest investment in the country, thus far. It will be a sustainable, world-class facility that can compete with the best in the world, and become a source of national pride for Filipinos,” he said.
The project is expected to fuel trillions of dollars in economic activity, potentially contributing about 9 percent of gross domestic product by 2025.
The airport, which will be built at no cost to the government, will be fully-funded by private equity with no government guarantee or subsidy.
Ang said the company was planning to raise $5 billion from existing shareholders of San Miguel and the remaining $10 billion through borrowings from foreign banks.
Tugade said the Bulacan airport project is “very substantive because this is a game-changer.”
“It’s all about comfort. It’s all about convenience. It’s all about putting life to President Duterte’s wish and desire,” he said.
Tugade said having three major airports would be beneficial to Filipino air passengers. “If we have Bulacan Airport, NAIA and Clark Airport, let it be a battle of commercial competitiveness. And who benefits? It is the riding public because they will be given a freedom of choice,” Tugade said.
Tugade said he was expecting to completion of the first phase of the Bulacan airport in four to five years.
Three major global engineering firms”•Group ADP, Meinhardt Group and Jacobs Engineering Group –were tapped to design the airport that will be able to withstand extreme weather conditions for 100 years.
All three companies were involved in building world-class airports including Changi Airport in Singapore, Atlanta Airport in the US and Charles de Gaulle Airport in France.
The initial designs envision a future-ready airport focusing on overall passenger experience and sustainable technologies consistent with the needs of the environment and the local communities of Bulacan and nearby provinces.
San Miguel said it would also engage a world-class airport operator to help manage the country’s future premier gateway.
The company is building the project on a 2,500-hectare property in Bulakan town about 30 kilometers northeast of Metro Manila at no cost to the government.
Ang said San Miguel would also build a train to transport passengers to key areas around Bulacan, Quezon City, Manila, Navotas and Malabon.
“The infrastructure network will likewise include existing major expressways, such as the Skyway system and ones that are currently being built such as Skyway 4 and the MRT 7,” he said.