San Miguel eyes building new airport with Lucio Tan group

Posted at 09/25/12 5:19 PM

MANILA - San Miguel Corp , the Philippines' most diversified conglomerate, said on Tuesday it was considering building a new major airport in the country with partner Lucio Tan, the country's second richest man. 

"We advise that the company and the Lucio Tan Group are jointly evaluating the possibility of constructing an airport which will serve as the country's main gateway," San Miguel told the stock exchange. 

San Miguel said the new airport will serve the requirements of flag carrier Philippines Airlines Inc (PAL)  and its sister firm, Air Philippines Corp. San Miguel and the Tan group jointly own PAL, which entered into a $7 billion jet order deal with Airbus last month.