May 27, 2013

Pagcor City licensees welcome SMC entry in NAIA tollway project

Pagcor chairman Cristino Naguiat said all four licensees  – Enrique Razon’s Solaire Resorts, Belle Corp., Alliance Global Group Inc. and Japanese-led Universal Entertainment Corp.  – are happy that  San Miguel Corp. (SMC)  won in the NAIA Expressway Project with an P11-B bid.

The project, valued at P15.86 B, would provide access to NAIA Terminals 1, 2, and 3 by linking the Skyway to the South Luzon expressway (SLEX) and the Manila-Cavite Toll Expressway (Cavitex). Originally, the four gaming licensees, who requested for the construction of the elevated ramp, were willing to finance P6.5 B but they would no longer have to do this because of SMC’s P11-B bid. - WealthSec