Saturday, October 20, 2018

Gov’t to decide on SMC’s airport project in Bulacan this month

Jan 3, 2018 @ 12:11

The technical board of the National Economic and Development Authority’s Investment Coordination Committee (Neda-ICC) would soon give its verdict on the proposed construction of an airport in Bulacan.

The ICC might decide on the P700-billion airport project initiated by San Miguel Corporation (SMC) this month, as the board had already discussed its feasibility.

“We asked DOTr [the Department of Transportation] to submit additional information to enable us to validate some of the assumptions,” Neda Undersecretary Rolando G. Tungpalan said, as quoted in news reports.

The plan to build an airport in Bulacan was an unsolicited project by the SMC, and would have to go through a Swiss challenge first to determine the rate of return when it comes to revenues.

“We have an ICC technical board meeting on Jan. 11. Before that, we will be able to ascertain if it [the project] is ready. In other words, is there new information that would lead us to sharpen our analysis? Jan. 11 is a critical day,” Tungpalan said.

The agency also needed more information for technical evaluation before it could decide to support the construction of the new international airport in Bulacan province.

The proposed airport would cover 1,168 hectares and would include a city complex to be built at a 2,500-hectare location along Manila Bay in Bulakan town.

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