MANILA – “An investment in our future” was how President Ferdinand “Bongbong” Marcos Jr. described the deal for the rehabilitation and modernization of the Ninoy Aquino International Airport (NAIA).
The Chief Executive made the statement after witnessing the signing of the landmark concession agreement between the Department of Transportation (DOTr) and SMC SAP & Co. Consortium.
According to President Marcos, the delay in the modernization of the country’s main gateway affects the Filipino people and also has negative impact on the country’s economy.
“This undertaking is not just about revenues that will be remitted to treasury alone, but resources invested in the airport and in many ways, it is an investment in our future,” Marcos said.
“The postponed improvement of the airport has caused delayed and reduced number of flights, which also affects the Philippine economy,” the Chief Executive added.
DOTr secretary Jaime Bautista announced last month that the SMC-SAP & Company Consortium was the winning bidder of the P170.6-billion NAIA Public-Private Partnership project.
According to Bautista then, the winning bidder was chosen after it offered the highest share of its future gross revenues from operating the airport to the government at 82.16%.
The winning group is made up of San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corp.
Overall, the government expects to raise more than P900 billion in revenue from turning over the operations and maintenance of NAIA.
“’I urge the San Miguel Corporation & Company Consortium to fulfill its commitment to this PPP project,” President Marcos said./PN
