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 Group, Metro Pacific Investments, LT 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.
