The unsolicited proposal of San Miguel Corp. (SMC) to build an airport at an estimated cost of P700 billion in Bulacan has been submitted to the National Economic and Development Authority (NEDA) Board for final review, Transportation Secretary Arthur Tugade said on Friday.
"By the end of last week we have awarded the proposal to NEDA [Board] for final evaluation," Tugade said in his keynote address at the Philippine Aviation Day in Makati City.
The Department of Transportation (DOTr) has gone through and assessed the proposal, the Cabinet official said. "In Bulacan, a formal proposal was submitted to us ... We have gone over the proposal," Tugade said.
Tugade said earlier that if SMC and DOTr should agree on the terms of the project, it will be endorsed to the NEDA-Investment Coordination Committee.
In an interview with reporters on the sidelines of Aviation Day, Tugade said the SMC proposal was given an original proponent status.
"Once approved by the NEDA, it will be subject to a Swiss challenge," Tugade said.
The proposed airport involves a 2,500-hectares land in Bulakan, Bulacan. — VDS, GMA News
"By the end of last week we have awarded the proposal to NEDA [Board] for final evaluation," Tugade said in his keynote address at the Philippine Aviation Day in Makati City.
The Department of Transportation (DOTr) has gone through and assessed the proposal, the Cabinet official said. "In Bulacan, a formal proposal was submitted to us ... We have gone over the proposal," Tugade said.
Tugade said earlier that if SMC and DOTr should agree on the terms of the project, it will be endorsed to the NEDA-Investment Coordination Committee.
In an interview with reporters on the sidelines of Aviation Day, Tugade said the SMC proposal was given an original proponent status.
"Once approved by the NEDA, it will be subject to a Swiss challenge," Tugade said.
The proposed airport involves a 2,500-hectares land in Bulakan, Bulacan. — VDS, GMA News
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