BOV sets sights on Philippine airport project

BTImes 18/8/2010

A MALAYSIAN consortium, BriSteel Overseas Ventures Inc (BOV), has expressed interest to undertake a project to enlarge the Diosdado Macapagal International Airport Terminal 2 (DMIAT2) in the Clark Free Port Zone in Pampanga province, the Philippines.


A high-level delegation from BOV, led by its managing director William Chee, met with senior Philippine government leaders, including vice-president Jejomar C Binay and executive secretary Jojo Ochoa, recently to officially register its readiness to carry out the project.


Chee said the consortium, consisting of a group of major government-linked and private firms, is ready to invest some US$150 million (RM475.5 million) on the project.


Under the proposed DMIAT2 expansion, the airport's capacity will be increased to seven million passengers per annum.


"BOV is committed to assisting the Philippines in developing the DMIAT2 as an alternative, premier international gateway to the Philippines," he said, adding that the Philippine authorities were receptive to its proposal.

A special briefing on the proposal was also conducted by BOV in collaboration with the Pampanga Media Group at Clark for local business communities. Officiating the briefing, Malaysian Ambassador to the Philippines Datuk Seri Dr Ibrahim said BOV's interest on the project was testimony of the existing cordial ties between Malaysia and the Philippines. Ibrahim said the Malaysian consortium has experience in developing and operating airports in Asean countries, the Middle East and India. He assured that all foreign projects implemented by private firms from Malaysia are closely monitored by the Malaysian government.

Mabalacat mayor and Metro Clark advisory council chairman Morino Morales welcomed the BOV's proposal, saying that the development of DMIA will boost the local economy enormously. He said considering the presence of the Subic Clark Tarlac Expressway, Clark Airport and other infrastructure projects, the town will develop into a bustling city like Makati.

San Miguel in talks on Clark airport project

Philippine conglomerate San Miguel Corp said it was in talks to join a locally-owned consortium that will bid for a state contract to upgrade an international airport north of the capital, reported Reuters.


The company told the stock exchange it was looking at joining the Philco Aero Group in seeking the contract for the Diosdado Macapagal International Airport (DMIA), a former US military airbase at Clark.


It was earlier reported Korea Airports Corp would acquire a five percent stake in Philco Aero Group. It said the consortium also included Posco Engineering and Construction, Samil PricewaterhouseCoopers and Korea Development Bank.


The government wants to expand the capacity of DMIA, which currently caters mostly to budget airlines, but has yet to decide whether to make it the country's main international gateway, replacing Manila's Ninoy Aquino International Airport (NAIA).


In April, San Miguel agreed to buy a majority stake in Caticlan International Airport Development Corp, which operates the airport nearest to Boracay island in central Philippines, a popular tourist destination.


The 120-year old San Miguel has been aggressively diversifying into heavy industry, including power, mining, oil refining and telecommunications and infrastructure.