$300M Caticlan upgrade to bring in 3M visitors

Visitors to Boracay are expected to hit as high as 3 million after TransAire Development Holdings Corp., a unit of San Miguel Corp., completes the expansion of the Caticlan airport and outlying properties.

Ramon S. Ang, San Miguel president, said the company has earmarked $300 million for the airport project and other tourism-related businesses.

The refurbished Caticlan terminal was inaugurated Sunday, a little over a year after San Miguel joined the original group that won the right to upgrade and develop the airport.

The original consortium was made up of George Yang, Rafael Puno, Lino Barte, and RPRP Ventures Management and Development Corp.

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