SMC names fin’l advisors for Bulacan airport

San Miguel Corporation (SMC) has appointed Standard Chartered Bank (SCB) and Sumitomo Mitsui Banking Corporation (SMBC) as co-financial advisors for its planned 1735-billion New Manila International Airport (NMIS) project in Bulacan province, north of Metro Manila.

The project, which the National Economic Development Authority (NEDA) approved last April, involves the construction of a worldclass, major international gateway with 4-6 parallel runways, modern terminals, a sea port, an industrial zone, plus necessary infrastructure such as expressways.

SMC's partnership with major financial institutions is a step forward to making the New Manila International Airport a reality.

“SMC has appointed SCB and SMBC as cofinancial advisors as we continue to progress through the next stages of approvals and process,” the company declared in a statement.

“They are both leading advisors in the infrastructure and airports sector and will be able to bring their expertise and experience to assist SMC throughout the process, with the ultimate goal of the successful delivery and closing of this landmark project for the Philippines.”

“It’s a great privilege and honor to partner with San Miguel Corporation on such a historic and game-changing project for the Philippines," according to the Standard Chartered Bank.

"We believe our experience in projects of this scale will be of great value to San Miguel, and, together with SMBC, we are ready and able to provide all the support they will need.”

“This project is of great importance to the Philippines and the Filipino people, and we are honored by the trust given to us by San Miguel Corporation,” according to SMBC.

“SMBC's task, together with SCB is to make sure that San Miguel has all the support required to get a project of this magnitude and scale, done. We look forward to providing our expertise to deliver this goal."