Lawmakers approve on second reading a measure granting San Miguel Corporation the franchise for the construction and operation of the ₱735.6-billion international airport in Bulacan.
Lawmakers approve on second reading a measure granting San Miguel Corporation the franchise for the construction and operation of the P735.6-billion international airport in Bulacan.
House Bill No. 7507 exempts SMC from all direct and indirect taxes, as well as fees to build, develop, and operate the 2,500-hectare New Manila International Airport over the next ten years. The franchise also allows SMC to construct, operate and maintain a commercial complex dubbed ‘Airport City’ in Bulakan, Bulacan.
In August 2019, SMC was granted the 50-year concession deal. SMC President and COO Ramon Ang said the construction of the aerotropolis will start in October, after being delayed by the review of the Justice Department on the contract and the quarantine restrictions due to the COVID-19 pandemic. Upon completion, the international airport is expected to cater to about 200 million passengers annually, helping decongest the Ninoy Aquino International Airport.
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