Gokongwei also willing to partner with SMC for mega-airport

Posted at 05/21/14 11:12 AM

MANILA, Philippines - The Gokongwei group is willing to partner with rival San Miguel Corp. for the latter's proposed $10 billion Manila airport.

JG Summit president and chief operating officer Lance Gokongwei said San Miguel's unsolicited proposal for a new airport is a "good suggestion" in solving the problems of the aging Ninoy Aquino International Airport (NAIA).

"Any plan that would increase access to the capital city like Manila should be thoroughly considered. We will certainly consider that if we're approached," he said when asked about San Miguel's willingness to partner with other conglomerates on the project.

Last week, San Miguel president Ramon Ang said the group was willing to invite partners, such as SM Investments and Ayala Corp to join the project.

San Miguel is proposing to build the new airport on reclaimed land along Manila-Cavite Coastal Road. The property is owned by CyberBay Corp, a company partly owned by Ang.

At $10 billion, the proposed airport would be more than six times bigger than the government's biggest unsolicited project, the P65 billion LRT 1 Extension. And at 750 hectares, it would be bigger than two municipalities, San Juan and Pateros.

The proposed airport has the capacity to serve 75 million to 100 million passengers every year. While the current NAIA capacity can only accommodate 40 planes per hour, the proposed airport can handle 250 planes.