CLARK FREEPORT, Pampanga – A group of major government-linked and private firms in Malaysia has offered to pour in some $150 million for the development of the Diosdado Macapagal International Airport (DMIA) in Clark Freeport Zone in Pampanga.

Made up of publicly listed conglomerates based in Malaysia, Bristeel Overseas Ventures Inc., (BOV) said in a statement that it was willing to enter into joint venture agreement with the Clark International Airport Corporation for the development and expansion of the DMIA Terminal 1 with a passenger capacity of seven million annually.

CIAC is the operating arm of DMIA inside Clark Freeport Zone. DMIA is host to several foreign budget carriers including local carriers flying out of Clark. Among them is Tiger Airways of Singapore, Air Asia of Malaysia, Asiana Airlines of Korea and local carriers such as Cebu Pacific Air, South East Asian Airlines (Seair) and Spirit of Manila Airlines.

“We have been studying this project for over a year now, and we believe that the expansion of the airport’s terminal is now urgently needed to lure in the entry of more international airlines and boost the position of DMIA as the next major gateway of the Philippines,” William Chee authorized representative of BOV said.

Chee said “we recognize that one of the priority programs of the Philippine government is to attract foreign direct investments into the Philippines. This project is in direct response to that policy and an expansion of our confidence in the Philippine economy.”

Chee also revealed that BOV will be composed of Malaysia’s construction giants with extensive experience in multi-billion dollar infrastructure projects, including airports and railways in different countries around the world.

He said that among its consortium members includes Malaysia Resources Corporation Berhad (MRCB) and Malaysia Airports Holdings Bhd (MAHB).

MRCB is one of the largest property development and investment companies in Malaysia including residential, tourism, commercial, industrial and multi-modal transportation hubs and projects worldwide. (AMR)