MANILA -- Six Philippine conglomerates and a U.S. fund have made a joint proposal to the government for a 100 billion Philippine pesos ($1.8 billion) project to upgrade and run the Manila airport, the group said on Thursday.
The conglomerate-backed companies -- Aboitiz InfraCapital, AC Infrastructure Holdings, Asia's Emerging Dragon, Alliance Global-Infracorp Development, Filinvest Development and JG Summit Infrastructure Holdings -- and New York-based Global Infrastructure Partners have formed the Manila International Airport Consortium, it added.
