Philippine's NEDA approves unsolicited proposal for Manila airport rehabilitation
The Investment Coordination Committee of the National National Economic and Development Authority (NEDA-ICC) in the Philippines has approved the unsolicited proposal submitted by NAIA consortium to rehabilitate and maintain the Ninoy Aquino International Airport.
The NAIA consortium, consists of Aboitiz InfraCapital, AC Infrastructure Holdings Corp, Alliance Global Group, Asia's Emerging Dragon Corp, Filinvest Development Corp, JG Summit Holdings, and Metro Pacific Investments Corp.
The estimated investment to redevelop the congested airport facility is PHP102 billion (US$1.94 billion).
The proposal will be subjected to a Swiss challenge where other bidders may opt to rival the offers. The winning team is expected to be announced by early December 2019.
Once Phase I of the redevelopment of the airport facility is completed, NAIA is expected to increase its capacity to 65 million passengers per year.
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