MANILA -- A consortium of six Philippine conglomerates and a U.S. fund on Monday pledged to spend 267 billion pesos ($4.8 billion) in exchange for a 25-year contract to upgrade and run the Southeast Asian nation's main airport.
Executives from Manila International Airport Consortium -- composed of Ayala Corp., Gokongwei Group, Alliance Global Group, Aboitiz Group, Lucio Tan Group, Filinvest Group and New York-based fund Global Infrastructure Partners -- doubled down on their joint proposal at a news conference, as state transport officials consider another option to upgrade Ninoy Aquino International Airport in Manila.
-interview-Main.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
