(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.
San Miguel Corp., the Philippines' largest company, wants to stop perennial flooding north of Manila where it's planning to build a 735.6 billion-peso ($15.1-billion) airport. Crabs may help it get the job done.
The conglomerate, also the nation's largest beermaker, will plant 190,000 mangroves in coastal areas near the capital to prevent flooding at the site of the proposed largest gateway in the Southeast Asian nation.
To protect these forests, San Miguel will also grow 100,000 mud crabs monthly at the 10-hectare mangrove plantation in Bulacan province, President Ramon Ang said in a statement. Mud crabs can be a source of livelihood for people in the area, he said.
Philippines Counts on Building Boom to Soften Pandemic Blow
“These flood mitigation measures are all integral to airport development,” Ang said. It's important to address these environmental concerns before investing over 700 billion pesos for the airport, he said.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
