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SMC’s P13.5-B Caticlan Airport rehab gets Noy’s PPP rolling By Danessa O. Rivera 06/26/2011

Sunday, June 26, 2011

SMC’s P13.5-B Caticlan Airport rehab gets Noy’s PPP rolling

By Danessa O. Rivera 06/26/2011

It took Asian conglomerate San Miguel Corp. (SMC) to get the President Aquino’s Private-Public Partnership (PPP) initiative going with the inauguration of the renovated Caticlan Airport at a cost of $300 million or P13.5 billion that SMC unit TransAire Development Holdings Corp. is undertaking.

Aquino led yesterday’s inauguration of the airport, which serves as gateway to the world renowned Boracay beaches, saying that it will pave the way for more tourism opportunities for the country.

He said the development of the Caticlan Airport will bring long-term economic benefits for the country, particularly by creating more jobs for the people in the tourism sector. These developments in the Caticlan Airport will make tourists more comfortable, according to the President.

SMC president Ramon Ang said the $300 million investment will cover all developments, including the expansion of the runway, terminal, convention center, commercial centers and hotels. Ang said setting up complete tourism facilities would assure that the airport will draw in more tourists..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20110626hed2.html

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