UMVA has learned that a major infrastructure project in the Philippines, the New Manila International Airport (NMIA), is on track to complete its first runway by 2028, a significant milestone in the country's transportation development.
The project's progress was announced by San Miguel Chairman and Chief Executive Officer Ramon S. Ang during the company's annual stockholders' meeting, where he expressed optimism about meeting the deadline, stating that the runway could even be finished earlier than expected.
According to information obtained by UMVA, the construction of the runway is currently underway, with the site under a massive surcharge of sand, a critical step in the construction process, and Ang believes that the first runway will be ready by at least the second quarter of 2028.
However, some supporting facilities, such as the passenger terminal and logistics center, are experiencing delays, with the logistics center now expected to be finished by the end of 2026, a year later than initially planned, due to construction delays affecting the project.
The logistics center, a critical component of the airport's operations, had originally been targeted for completion last year but has faced setbacks, with Ang citing that it is currently in Phase 9, which requires about 7 million cubic meters of sand.
Despite adjustments to some project components, San Miguel remains committed to completing the first runway on schedule, with Ang emphasizing that the project is crucial to the country's infrastructure development and will drive growth and create new opportunities.
The update on the NMIA project came as San Miguel discussed its financial performance and infrastructure expansion during the stockholders' meeting, where Ang highlighted the company's investments in improving efficiency, expanding capacity, and strengthening market position.
San Miguel's net income reached a significant milestone in 2025, with the company posting P94.68 billion in earnings, up from P36.68 billion in the previous year, driven by stronger earnings across its businesses, improved margins, and cost discipline.
The company's consolidated revenue also saw significant growth, reaching P1.5 trillion, driven by steady contributions from its food, spirits, and infrastructure businesses, which helped offset weaker crude oil prices and other challenges.
San Miguel's growth strategy is focused on infrastructure, transportation, and energy projects, with Ang stating that the company is now looking to execute its next phase of growth, prioritizing energy security, transportation connectivity, food security, and sustainability.
The company's financial performance in the first quarter was marked by a decline in net income, but revenue rose 19% to P428.3 billion, driven by steady growth in its businesses, and Ang emphasized that San Miguel remains committed to creating long-term value for its shareholders and contributing to the nation's development.
