The Government of Netherlands has extended export credit insurance (ECI) to San Miguel Corporation (SMC) for the PHP740 billion New Manila International Airport (NMIA) project in Bulacan, Philippines. The ECI will cover a PHP83 billion contract for land development works at the airport project site.
The NMIA project involves the development of a 2,500-hectare airport in Bulacan that includes four runways, a passenger terminal building with airside and landside facilities and an airport toll road.
Once operational, the airport will initially have an annual passenger capacity of 100 million with the option of expanding it to 200 million in the future. It will also be able to handle about 240 aircraft movements per hour. A planned 8.4 km toll way that will be constructed under the NMIA project will connect the airport to the North Luzon Expressway.