The Department of Transportation (DOTr) recommended granting original proponent status to the conglomerates proposing to rehabilitate the Ninoy Aquino International Airport (NAIA) on Tuesday.
The NAIA Consortium is composed of Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Alliance Global Group Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp.
They agreed to lower the cost of the rehabilitation from P350 to P150 billion and shorten the concession period from 35 to 15 years, reported GMA News.
The recommendation is the first step of the process. The board of directors of the Manila International Airport Authority (MIAA) would have to approve the recommendation, and send the proposal back to the DOTr, which will submit it to National Economic and Development Authority-Investment Coordination Committee.
Once approved, the government will invite third parties to match or offer a better proposal. The NAIA Consortium will be allowed to match any counteroffer and bag the project.
