Regulator OKs airport builder for Boracay
12/12/2008 | 05:27 AM
MANILA, Philippines - The Securities and Exchange Commission has approved the establishment of a new company that will build an airport in or around a popular tourist spot in the Visayas.
Boracay International Airport and Development Corp., whose incorporation was approved two weeks ago, will build the facility either in Boracay island in Malay town, Aklan province or in nearby Romblon province, documents filed with the regulator showed.
Aseana Holdings, Inc., the parent group of several companies developing projects along Roxas Blvd. in Parañaque City, subscribed to almost a quarter of the shares.
The company’s other stockholders are Delfin J. Wenceslao, Jr., Edwin Michael C. Wenceslao and Paolo Vincent C. Wenceslao, who are officers of construction firm DM Wenceslao & Associates, Inc.; and Estaban C. Tajanlangit, Jr. and Esteban Tajanlangit III of Boracay Property Holdings, Inc.
The stockholders were unavailable for comment.
P5-billion airport
Earlier reports said Boracay Property Holdings planned to build a P5-billion airport with some foreign partners on either island, which are only 15 minutes away from each other by ferry.
The project involves the construction of a 2.7-kilometer runway that can accommodate larger aircraft and cater up to a million visitors annually.
Tourists who visit Boracay currently use nearby Caticlan airport, which can only handle small aircraft.
Carabao Island, which is about four times the size of the 10-square kilometer Boracay, share the same natural features as Boracay and is being offered by the Tourism department as an alternative tourist spot. — Don Gil K. Carreon, BusinessWorld
Boracay International Airport and Development Corp., whose incorporation was approved two weeks ago, will build the facility either in Boracay island in Malay town, Aklan province or in nearby Romblon province, documents filed with the regulator showed.
Aseana Holdings, Inc., the parent group of several companies developing projects along Roxas Blvd. in Parañaque City, subscribed to almost a quarter of the shares.
The company’s other stockholders are Delfin J. Wenceslao, Jr., Edwin Michael C. Wenceslao and Paolo Vincent C. Wenceslao, who are officers of construction firm DM Wenceslao & Associates, Inc.; and Estaban C. Tajanlangit, Jr. and Esteban Tajanlangit III of Boracay Property Holdings, Inc.
The stockholders were unavailable for comment.
P5-billion airport
Earlier reports said Boracay Property Holdings planned to build a P5-billion airport with some foreign partners on either island, which are only 15 minutes away from each other by ferry.
The project involves the construction of a 2.7-kilometer runway that can accommodate larger aircraft and cater up to a million visitors annually.
Tourists who visit Boracay currently use nearby Caticlan airport, which can only handle small aircraft.
Carabao Island, which is about four times the size of the 10-square kilometer Boracay, share the same natural features as Boracay and is being offered by the Tourism department as an alternative tourist spot. — Don Gil K. Carreon, BusinessWorld
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