SIX of the country’s biggest conglomerates have regrouped to create a consortium and submitted an unsolicited proposal to the government to rehabilitate and upgrade the Ninoy Aquino International Airport.
The more than P100-billion proposal was submitted by Manila International Airport Consortium and US-based Global Infrastructure Partners. The proposal includes a significant upfront payment to the government and committed investments in new facilities and technology to transform the dilapidated NAIA into a world-class airport.
The six conglomerates include Aboitiz InfraCapital Inc., Ayala-led AC Infrastructure Holdings Corp., Lucio Tan’s Asia’s Emerging Dragon Corp., Andrew Tan’s Alliance Global-Infracorp Development Inc., the Gotianun’s Filinvest Development Corp. and the Gokongweis’ JG Summit Infrastructure Holdings Corp.
“We are ready to put our combined resources forward in partnering with the Government on this massive undertaking. Our consortium brings unrivalled expertise, proven solutions and extensive capital. As the only large-scale operating gateway airport to the Philippines,
the modernization and long-term sustainability of NAIA is a critical development priority for both the country’s public and private sectors,” Kevin Andrew L. Tan, AGI’s chief executive said.
“We submit this proposal united in the belief that our gateway to the world needs to represent the best of who we are as Filipinos. Passing through our international gateway should be a seamless experience. We want the first thing that locals and foreigners alike see, when they arrive in the Philippines, to be a source of pride for all Filipinos. The consortium is confident that with additional financial resources as well as operating process and technology improvements, NAIA can help achieve that vision,” Filinvest’s CEO Lourdes Josephine Gotianun Yap said.
The group envisions NAIA with the ability to serve up to 62.5 million passengers per annum by 2028, more than double its currently constrained design capacity, which stands at only 31 million passengers for the four terminals.
Prepandemic passenger traffic had already reached 48 million passengers in 2019, underscoring the need to upgrade the airport to meet growing demand.
“We envision a truly world-class airport befitting the beauty of the Philippines: one where congestion, reliability issues, and unpleasant passenger experiences will become things of the past. Domestic and international connectivity are keys to unlock economic growth to take the country to upper middle-income status,” Tan said.
Airports currently and previously owned or operated by members of the consortium include Mactan-Cebu, Clark, London Gatwick, Edinburgh, London City and Sydney airports.
Image credits: Michael Edwards | Dreamstime.com