The Philippine economy is on the right track of growth. In 2017, the San Miguel Corporation suggested a plan for the construction of an airport in the Philippines with two parallel, 3.5 km long runways. A year later on December 21, 2018, the National Economic and Development Authority Board authorized the negotiating report. Thus, an airport known as the New Manila International Airport or the Bulacan International Airport is currently under construction. The Bulacan International Airport will assist in clearing Ninoy Aquino International Airport, which is the primary air travelers entry and exit point to Manila. The new airport is a major part of the Philippines President Rodrigo Duterte administration's "Build! Build! Build!" flagship infrastructure initiative.
Bulacan International airport will soon be one of the busiest airports in the world. It is situated in Bulacan Province of Central Luzon Region and being developed by San Miguel Aerocity Incorporated. It has been given a 50 year contract by the Philippine government to construct, run, and maintain the airport. A build-operate-transfer scheme will result in the Philippine government's complete ownership of the airport. Following the signing of a concession agreement for the construction of the new airport at the ASEAN Convention Center in Clark Freeport Zone, San Miguel Corporation, through its subsidiary San Miguel Aerocity Inc., was given an almost P 740 billion contract by the Department of Transportation to manage and then turn over the project with a group of foreign banks working together to finance the land development phase.
Narration: 🎙️ BritishProvo
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