Oct. 19 (Bloomberg) — The Philippines will consider selling the main Manila airport estimated to raise as much as $2.5 billion that the government can use to help fund the construction of an international airport in Clark, north of Manila, Transportation and Communications Secretary Mar Roxas said in a statement today.
“All of these are just plans and will not happen overnight or within one to three years,” Roxas said in the statement. A study by the transport department showed the 30-year-old Ninoy Aquino International Airport in the capital has reached “saturation point” and doesn’t have much room for expansion.
To contact the reporter on this story: Joel Guinto at [email protected]
To contact the editor responsible for this story: Clarissa Batino at [email protected]
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By: Joel Guinto
Source: Bloomberg, Oct. 19, 2011
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