A dispute has arisen over the supposed location of a new airport that Philippine-based conglomerate San Miguel Corp (SMC) and Philippine Airlines' majority owner, Lucio Tan, are in talks to build.
Listed developer Boulevard Holdings Inc (BHI) had, on 22 November, issued a disclosure giving an update on the company's developments. In it, there was also a map of Metro Manila, which showed an area marked "San Miguel New Airport City" at Cavite province in the south of Manila.
This sparked speculation that a location had been firmed for the new airport, which prompted SMC to issue a statement to the Philippine Stock Exchange, denying that it has any transactions with BHI. SMC also denied that it has an airport project as indicated in the location map listed in BHI's disclosure.
SMC has so far been tight-lipped about the location of its planned new airport, which could replace Ninoy Aquino International Airport as the main gateway of Manila.
In September, SMC announced that it is evaluating the feasibility of building a new airport in Manila, together with the Lucio Tan Group.
"The contemplated airport shall address the requirements of Philippine Airlines and Air Philippines [Corporation], respectively," it adds.
The company also estimates the cost of the airport to come up to $6 billion.