{"id":328984,"date":"2024-08-14T17:13:10","date_gmt":"2024-08-14T09:13:10","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328984"},"modified":"2024-08-14T17:13:12","modified_gmt":"2024-08-14T09:13:12","slug":"trade-the-news-smcs-bulacan-airport-completion-pushed-back-to-2028-due-to-sand-shortage","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-smcs-bulacan-airport-completion-pushed-back-to-2028-due-to-sand-shortage\/","title":{"rendered":"Trade the News: SMC’s Bulacan Airport completion pushed back to 2028 due to sand shortage"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEGATIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>San Miguel Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>SMC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 100.90<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

San Miguel Corp. (SMC) is experiencing a shortage of raw materials in the construction of its P740 billion aerotropolis in Bulacan province, with the airport development now set to be finished by the end of 2028.<\/p>\n\n\n\n

A shortage of fill sand is hindering efforts to sufficiently elevate the planned airport runway above sea level. This will ensure the project is protected from extreme weather conditions and floods, tycoon Ramon S. Ang said.<\/p>\n\n\n\n

\u201cWe ran out of construction sand for the landfill to reach seven meters above sea level for the runway,\u201d Ang told InsiderPH. <\/p>\n\n\n\n

Currently 84% completion on land development<\/strong><\/p>\n\n\n\n

In a disclosure to the Philippine Stock Exchange, SMC said the ongoing land development and ground improvement activities at the airport site in Bulacan province stood at around 84 percent.<\/p>\n\n\n\n

SMC needs to finish land development works before building the airport facilities. The company said the new schedule was approved by the Department of Transportation.<\/p>\n\n\n\n

\u201cPer approved DOTr timeline, airport development will be completed by the end of 2028,\u201d SMC said in a presentation to investors on Tuesday.<\/p>\n\n\n\n

100-M passenger capacity<\/strong><\/p>\n\n\n\n

The new gateway will be developed in phases, starting with a capacity of 35 million passengers per year, and eventually expanding to 100 million.<\/p>\n\n\n\n

The airport will be connected to Metro Manila by an 8-km toll road via the North Luzon Expressway.<\/p>\n\n\n\n

NAIA upgrades in focus<\/strong><\/p>\n\n\n\n

SMC is also preparing to assume operations of the Ninoy Aquino International Airport (NAIA) in September.<\/p>\n\n\n\n

An SMC-backed consortium earlier bagged the P170 billion deal to upgrade and operate NAIA, the Philippines\u2019 main gateway.<\/p>\n\n\n\n

(News excerpt from Insider PH<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-328984","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328984"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328984\/revisions"}],"predecessor-version":[{"id":328986,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328984\/revisions\/328986"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}