San Miguel hires Dutch firm for $1.73b airport land deal

San Miguel awarded Royal Boskalis Westminster a US$1.73b contract to develop land for its 740b-peso ($15.4b) airport project north of the Philippine capital. Shares of the Dutch company jumped. “Our selection of a global giant in dredging shows how ready, willing, and committed we are to do everything necessary to make sure this airport project is developed properly and sustainably,” San Miguel President Ramon Ang said. Approximately 1,700 hectares of land will be developed for the airport in Bulacan province. Preparatory works on land development will begin in early 2021 and will be completed by 2024. Boskalis will ensure the area is sustainable for development and can withstand earthquakes, typhoons and future rise in sea level, Ang said.<br/>