Philippine group backed by US fund touts $4.8b airport pitch

Philippine group backed by US fund touts $4.8b airport pitch

FILE PHOTO: REUTERS/Romeo Ranoco

A consortium of six Philippine conglomerates and a U.S. fund on Monday pledged to spend 267 billion pesos ($4.8 billion) in exchange for a 25-year contract to upgrade and run the Southeast Asian nation’s main airport.