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San Miguel Corp. has proposed to build a US$10-billion modern international airport on a 1,600-hectare part of Manila Bay in Parañaque, Las Piñas and Bacoor, Cavite over a period of five to seven years.
San Miguel President and COO Ramon Ang said the planned airport project would be designed to have four runways capable of handling 150 million passengers annually and could accommodate 250 takeoffs and landings per hour. The Ninoy Aquino International Airport has a capacity of only 40 takeoffs and landings per hour, he said.
Mr. Ang said the airport would be built on the project started by Cyber Bay Corp., which has already reclaimed 157 hectares. Cyber Bay earlier planned to develop Cyber Bay City on Freedom Islands located along Manila-Cavite Coastal Road in the cities of Paranaque, Las Pinas and Bacoor, Cavite.
Mr. Ang, who once served as co-chairman of Cyber Bay Corp., said as the whole project would require 1,600 hectares of land, San Miguel is in talks with a potential partner that would oversee the reclamation and construction of the project. He said once the airport project is completed, the 400-hectare Ninoy Aquino International Airport could be sold by the government to interested developers for as much as US$15 billion.