MANILA, Philippines – After several revisions, the proposal of the country's top conglomerates to rehabilitate the Ninoy Aquino International Airport (NAIA) was finally approved by the National Economic and Development Authority (NEDA) Board on Friday, November 29.
The P102-billion build-operate-transfer proposal by the NAIA Consortium aims to address NAIA's constraints by "reconfiguring and renovating existing facilities and enhancing operation and maintenance of the airport."
The concession agreement would last for 15 years, from the initial 35-year proposal.
Once completed, the airport will be able to handle much more than the 31 million it was designed to accommodate.
The 7 partners in the "super consortium" are Aboitiz InfraCapital Incorporated, AC Infrastructure Holdings Corporation, Alliance Global Group Incorporated, Asia's Emerging Dragon Corporation, Filinvest Development Corporation, JG Summit Holdings Incorporated, and Metro Pacific Investments Corporation.
The proposal will now undergo a Swiss challenge, where the government invites private groups to make competing offers, while giving the original proponent the right to match them.
Meanwhile, the NEDA Board also approved the unsolicited proposal for the Bohol-Panglao International Airport by Aboitiz InfraCapital.
The proposal covers the operations and maintenance of the airport, including the initial enhancement and installation of internal fit-outs of existing facilities. – Rappler.com