NAIA super consortium moves closer to securing original proponent status
MANILA, Philippines — The Department of Transportation has recommended giving an original proponent status to a team of seven conglomerates that recently submitted a proposal to upgrade the aging Ninoy Aquino International Airport.
At a press conference Tuesday, Transportation Secretary Arthur Tugade said the DOTr's planning division has asked the Manila International Airport Authority to award the original proponent status to the so-called “NAIA super consortium,” which has a combined capitalization of more than P2.2 trillion.
Should the band of tycoons become the original bidder, it would have the right to match the offers given by other groups via a Swiss challenge. The multi-billion peso makeover seeks to transform NAIA into a regional hub that will compete with Singapore’s Changi Airport and Bangkok’s Suvarnabhumi Airport.
For his part, MIAA general manager Eddie Monreal confirmed his agency received the DOTr’s endorsement, which will be up for approval of the MIAA’s board of directors. The board will meet on Thursday.
The overstretched Manila airport earned the world's worst airport title on online polls from 2011 to 2013.
Tugade earlier said the consortium’s initial P350 billion proposal with a 35-year concession period was too long as the country’s main international gateway is seen to be viable only for 10 more years.
To fit the government’s preference, the consortium tweaked and re-submitted the proposal, which now has a shorter concession period of 15 years and a lower project cost of around P106 billion.
Listed builder Megawide Construction Corp. and its Indian partner, GMR, previously flagged moves by the super consortium to revise their offer. The duo has submitted a $3-billion, 18-year unsolicited proposal to rehabilitate, operate and maintain NAIA.
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