SMC eyes partner-builder for planned Caticlan resort
San Miguel Corp. (SMC) may have to pass to a potential partner an earlier plan to develop a leisure estate near Caticlan airport, the main gateway to Boracay Island, the conglomerate’s chair and CEO Ramon S. Ang said.
While Ang had already confirmed they would still pursue other critical infrastructure to improve the Godofredo P. Ramos Airport, he admitted that developing a resort may not be up the diversified company’s alley.
“It is not our expertise to develop a resort, so I think we will find a partner to develop the land there,” Ang said during the Economic Journalists Association of the Philippines-SMC Aviation Forum held earlier this week.
SMC has yet to decide on a specific partner. Seven years ago, the company said it would build a 130-hectare leisure complex that would include a 400-room hotel, potentially under the Marriott brand, near Caticlan airport.
A convention center, ocean park, entertainment facilities and other recreational amenities were also previously planned to support further growth in the sprawling beach community that welcomes millions of local and foreign tourists yearly.
But for now, Ang said SMC wanted to focus on improving the Caticlan airport.
SMC affiliate Trans Aire Development Holdings Corp. currently holds the right to rehabilitate the airport under a 25-year concession agreement.
The contract was originally awarded to Caticlan International Airport Development Corp. (CIADC) in 2009, but SMC bought a majority stake in CIADC a year later.
In 2011, SMC said it would spend $300 million to modernize the airport.
SMC, which also won the mammoth P170.6-billion contract to rehabilitate Ninoy Aquino International Airport in Pasay City, has so far refurbished the Caticlan airport’s runway to accommodate bigger jets.
Ang said they would officially open “in less than three years” a new terminal with a capacity of 7 million passengers yearly as the influx of Boracay-bound tourists continued.
He added that they would select a contractor for the airport extension this year.
Apart from the new terminal, a 1.9-kilometer toll bridge connecting Caticlan to the main Boracay Island may also be in the works soon, according to Ang.
Once the bridge is built, visitors may no longer need a 15-minute boat ride to reach Boracay.
The infrastructure is likewise expected to help dispose of garbage on the island that was previously shut down due to trash buildup and segregation issues.
