Philippines-based San Miguel Corp said on Tuesday that the completion of the New Manila International Airport in Bulacan would be delayed to 2028, mainly due to difficulties in sourcing sand.
The company confirmed a media report by local newspaper BusinessWorld, which had reported the anticipated delay of the Php740-billion ($13.15-billion) project earlier in the day.
“San Miguel Corp expects a delay in the construction and operation of the Bulacan New Manila International Airport due to the lack of sand which is used as backfill for the on-going construction work,” the company said in a statement.
The conglomerate added that the Government of the Manila Bay reclamation projects’ suspension limited access to sand sources.
The company also flagged that it expected a delay in its Metro Rail Transit Line 7 in Bulacan to 2028, due to pending issues on the alignment and location of the San Jose del Monte Station.
The company reported a 66-per-cent jump in its half-year net income earlier this month.