P26-B NAIA-3 project is sign of investor confidence in RP

The construction of the P26-billion Ninoy Aquino International Airport International Passenger Terminal 3 (NAIA-IPT 3) is a concrete sign of continued investor confidence in the country, according to the Philippine International Air Terminals Corp. (PIATCO), the company that is building the facility.

"That respected foreign institutions have invested heavily in this project shows that investors have faith in the Philippine economy," according to lawyer Moises Tolentino, PIATCO spokesman.

PIATCO is a consortium of Filipino, German, Singaporean, and Japanese companies namely: Flughafen Frankfurt Main AG, People’s Aircargo & Warehousing Co. Inc., Philippine Airport and Ground Services Terminal Inc., Philippine Airport and Ground Services Inc., SB Airport Investments Inc., and Nissho Iwai Corp.

Tolentino pointed out that even after the construction of the modern air facility, Flughafen Frankfurt Main AG, one of the German partners, had expressed its intention to continue its involvement in the project after construction, by lending its technical expertise to ensure the NAIA-IPT 3 will meet world standards.

"Clearly, the international community has confidence in our economy as can be seen with their involvement in this major project," Tolentino said.

He, however, lamented the "latest fabrication" being spread by opponents of the project, that may serve to dissuade potential investors.

Tolentino was referring to "wild allegations" that a supposed $100-million bribe was given to former President Estrada when he was still Chief Executive.

The PIATCO executive dismissed this claim, stressing that the contract was already approved even before Estrada became President. "Any amendment made to the contract was to comply with requirements of international lenders so the contract would meet international lending standards. It is the international lenders who asked for such amendments," said Tolentino.

It is clear, he pointed out, that those out to derail the project have no valid issues to raise as all their allegations have been answered with facts, thus, they have resorted to pure fabrication. "Why would a bribe be necessary to amend such a provision where no monetary gain is involved and where it is the international lender who is seeking a clarification."

Tolentino appealed to those out to derail the project to "refrain from spreading outright lies and just deal with the facts." "We do not understand why anyone would want to derail a project that will benefit Filipinos and have a positive impact on the economy," he stressed.