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Philippine consortium proposes $6.75bn bid to transform Manila's airport

Major conglomerates plan regional hub that competes with Singapore, Thailand

  © Reuters

MANILA -- A consortium of major Philippine conglomerates has pitched a 350-billion-peso ($6.75 billion) proposal to transform Manila's international airport into a regional aviation hub.

The seven business groups -- Ayala Corp., JG Summit Holdings, Aboitiz Equity Ventures, Alliance Global Group, Metro Pacific Investments, LT Group and Filinvest Development -- submitted a plan to the Department of Transportation on Monday.

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