The Philippines Department of Transportation (DOTr) has endorsed the proposal of a super consortium of seven conglomerates to rehabilitate Ninoy Aquino International Airport (NAIA).
The backing of DOTr means the PHP102bn ($1.96bn) NAIA rehabilitation plans are more likely to go ahead.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
As per the revised proposal, the NAIA consortium plans to conduct upgrades and rehabilitation works at the airport over four years once approval has been granted.
Transportation Undersecretary for planning Ruben Reinoso told The STAR that the agency endorsed the revised NAIA Consortium offer yesterday to the National Economic and Development Authority (NEDA)’s Investment Coordination Committee (ICC).
Reinoso told the publication: “Based on our evaluation, it is compliant with the Clark template.”
In May last year, the consortium submitted its revised proposal to rehabilitate, upgrade, expand, operate, and maintain NAIA airport for a period of 15 years.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe unsolicited proposal was submitted to the National Economic and Development Authority (NEDA) for review a few weeks after DOTr’s acceptance.
However, the NAIA consortium’s proposal was returned by the government last month. It follows a decision taken by the government that makes it mandatory for projects to outline their concession agreements.
Last July, the NAIA consortium submitted its revised proposal to the DOTr and the Manila International Airport Authority.
The NAIA consortium is made up of Aboitiz InfraCapital, AC Infrastructure, Alliance Global Group, Asia’s Emerging Dragon, JG Summit, Filinvest Development, and Metro Pacific Investments.
The consortium has been granted original proponent status (OPS) to rehabilitate, upgrade, expand, operate, and maintain the Philippines’ main international airport.
Plans include expanding and interconnecting the existing terminals of NAIA, modernising its airside facilities, and developing commercial facilities to increase airline and airport efficiency.
With original proponent status, the consortium will be required to match any offers submitted by other proponents.
