Philippines' National Economic and Development Authority approves Bulacan International Airport concession
The Board of the National Economic and Development Authority (NEDA) of the Philippines has announced that it has approved the concession agreement for the Bulacan International Airport project between the Department of Transportation (DOTr) and San Miguel Holdings Corporation (SMHC).
The project - an unsolicited public-private partnership (PPP) proposal - involves the construction, operation, and maintenance of a new international airport on a 2,500-hectare site in Bulakan, Bulacan, north of Manila Bay.
The proposal entails a total project cost of PHP735.63 billion (US$14 billion). The original proponent, through an Unsolicited Build-Operate-Transfer arrangement, will assume the total project cost, with the concession agreement including no government guarantee or any form of subsidy.
The DOTr will now proceed with finalizing the concession agreement. The revised agreement will go through a final review of the Office of the Solicitor-General and the Department of Finance before it is advertised to parties for a Swiss Challenge.
