The Award Goes To San Miguel
The bidding has finally come to an end as the Department of Transportation (DoTr) officially issued the notice of award, last Wednesday, to San Miguel Holdings Corporation (SMHC). The Bulacan International Airport project will have a total worth of P734-billion. With this notice of award, SMHC is now responsible for the financing, construction, design, supply, commissioning, completion, operation, testing, and maintenance of the said airport project. The next process would be the submission of the documentary requirements like the performance bond and letter of credit from a bank to be provided to DoTr Special Bids and Awards Committee within 20 days from the day it received the notice of award.
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Stock Smarts Hong Kong – August 11, 2019
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The New Manila International Airport
The notice of award to SMHC is an indication that the Bulacan International Airport can be now be pushed forward. Once it became operational, the new airport will provide connectivity options to Filipinos. This will be known as the New Manila International Airport and will become a new alternative to Ninoy Aquino International Airport in Pasay City. It will occupy a 2,500-hectare land in Bulacan, Bulacan and will consist of four to six parallel runways. The capacity will be at 100 million passengers yearly.
When Will It Operate?
Obviously, it would take time for SMHC to complete the project as this is a large one. The estimated operational period is within four to six years. The firm has three foreign firms in mind to partner with. They are Groupe ADP (Aeroports de Paris), Jacobs Engineering Group, and Meinhart Group. SMHC is hoping to build a long-term solution not just for Filipinos but for all the people who go in and out of the country. It would be a sustainable and world-class Philippine gateway with sufficient runways and facilities to meet current and future needs.
What’s Great About This?
The new airport would be a great alternative to travelers. We all know the traffic is too congested in Pasay City and it requires a lot of time to travel to NAIA even if you are just from Metro Manila. After 4 to 6 years, we will have an option to fly from Bulacan. For investors and businessman, this is a great spot to put up your investment. If your target market is travelers, airports are the best places for food and hotel businesses. Big companies will surely make a move to reserve their spot in the soon-to-rise airport and this is the time for you to start investing in them!
