Over the next three to 25 Oyears, San Miguel Corporation chair and CEO Ramon S. Ang (aka RSA) has committed to spend, without cost to the government, a whopping P1.743 trillion to modernize and manage three of the country's largest airports - P1 trillion in fees for the Ninoy Aquino International Airport in Pasay City; P735 billion in capex for the New Manila International Airport in Bulakan, Bulacan and P8 billion in capex for the Boracay Airport.
Easily, with its P1.743-trillion spending, San Miguel is the country's biggest investor. SMC will also be the biggest employer.
The airports will create two million jobs, double the present job generation. The unprecedented investments by a single company will transform the Philippine economy dramatically, accelerating growth from the present 6 percent per year, to easily eight or even nine percent per year.
The P1 trillion (P911 billion without inflation) are payments and fees to the government for the right to modernize, manage and operate NAIA, for 15 years in the first phase, and an additional ten years after that, if SMC does good in its 2024-2039 initial concession period. The new NAIA will service 62 million passen-gers a year, more than double NAIA's current design for 29.5 million passengers.
Additionally, RSA has committed to spend, without cost to the government, P735 billion to build and manage the Bulacan Airport or the New Manila International Airport, ten minutes north of Manila in Bulakan town, to service 100 million passengers a year.
Denne historien er fra October 29, 2024-utgaven av The Philippine Star.
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Denne historien er fra October 29, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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MQuest Artists Agency offers acting, dance, voice workshops
Those who will participate in the MQuest Artists Agency (MQAA) acting, dance, and voice public workshops will get the chance to be discovered and have exclusive access to auditions and the opportunity to join the MQAA talent pool.
SAM VERZOSA ON GIRLFRIEND RHIAN RAMOS: SHE'S MY LUCKY CHARM
SAM VERZOSA DESCRIBED girlfriend Rhian Ramos his \"lucky charm\" after receiving back-to-back awards this month.
The charmed life of Happy Ongpauco-Tiu
I was recently invited to the birthday lunch of PR guru Susan Joven at Tsokolateria-Pamana restaurant in the new GH (Greenhills) Mall.
FEELING RIZAL HOVER 'IN THE AIR' TONIGHT IN HEIDELBERG
HEIDELBERG, Germany—They say history is not just something we read or study; it is something we walk through. All our movements and moments become, in a sense, historic (with the magnitude of their historicity being relative, of course). History inhabits the air of cities—most especially old, grizzled ones such as Heidelberg in Germany with the hum and thrum of its cobblestones, where we recently echoed the footfalls not only of countless German figures who have shaped history but also of one Dr. Jose Rizal.
New Phl CPF finalized early next year – WB
The World Bank expects to finalize by early next year its new country partnership framework (CPF) that will outline programs to be supported in the Philippines for 2025 until 2028.
Focus on exports
Federation of Filipino Chinese Chamber of Commerce and Industry Inc. (FFCCCII) president Cecilio Pedro hopes that government officials would focus on increasing the country's self-sufficiency next year in the face of possible tariffs threats from the United States with the expected takeover of the government by president-elect Donald Trump.
ERC: EPIRA amendments could bring down power costs
The proposed changes to the Electric Power Industry Reform Act (EPIRA) could deliver the long-awaited solution to soaring electricity costs, according to the country's power regulator.
The bigger problems
\"In the larger scheme of things, Sara is unimportant. So please do not file impeachment complaints. It will only distract us from the work of governance which is to improve the lot of all Filipinos.\"
Phl MSMEs among target beneficiaries of ADB, Mastercard financing in Asia-Pacific
Micro, small and medium enterprises (MSMEs) in the Philippines are among the initial target beneficiaries of financing from the Asian Development Bank (ADB) and Mastercard to support small businesses in Asia-Pacific.
Metro Retail revisiting network expansion plan
Metro Retail Stores Group Inc., the listed retail company of the Gaisano Group, is revisiting its network expansion plan and strategies to adapt to the changing preferences of Filipino consumers.
