The PHP17.5bn ($399.72m) project at Mactan-Cebu International Airport in the Philippines has received a boost, with all seven prequalified groups bidding for the project.
The public-private partnership (PPP) project involves the construction of a new international passenger terminal with a capacity to handle eight million passengers annually, and the renovation and expansion of the old terminal.
It also covers the installation of the required new equipment, and the operation of the existing and new facilities.
After the construction of the new international terminal building, the existing terminal, which serves both domestic and international passengers, will be converted into an exclusively domestic passenger terminal.
Department of Transportation and Communications (DOTC) spokesman Michael Sagcal said: "The high turnout is proof that investors are confident in our PPP programme.
"We want to sustain the momentum from this project to the next ones in our pipeline."
The bidders for the project include; the MPIC-JGS consortium, Premier Airport Group, the San Miguel-Incheon Airport consortium, AAA Airport Partners, the Filinvest-CAI Airport consortium, First Philippine Airports, and the GMR Infrastructure-Megawide consortium.
Currently, the DOTC is evaluating the technical proposals submitted for the airport project, and plans to proceed to the opening and evaluation of financial proposals next month.
The strong interest from bidders came after the National Economic and Development Authority (NEDA) approved changes in the concession agreement for the proposed airport project in response to questions raised by the prequalified groups.
These changes include extending the concession period from 20 years to 25 years, transfer of the operation and maintenance of the aprons from the grantors to the concessionaire, allowing flexibility in the implementation of capacity augmentation, and sharing of liability for real property tax.
NEDA also increased the duration of the period for prohibiting competing airports to 25 years.