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Philippines

Singapore eyes 30% stake in Manila airport expansion

Changi Airport keen to join Philippine consortium in backing the project

Changi Airport's Terminal Two in Singapore. Changi Airport is widely recognized as one of the best in the world.   © Reuters

MANILA -- Singapore's Changi Airport Group intends to take a 30% stake in a project put forward by a consortium to expand the Manila airport into a regional aviation hub, according to a local businessman.

Seven powerful conglomerates -- Ayala Corp.JG Summit Holdings, Aboitiz Equity Ventures, Alliance Global GroupMetro Pacific InvestmentsLT Group and Filinvest Development -- on Feb. 12 jointly submitted a 350-billion-peso ($6.75 billion) proposal to expand and modernize the congested airport in the Philippine capital.  

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