NEDA-ICC approves P102-billion NAIA rehab project
By Chino S. Leyco
The National Economic and Development Authority Board-Investment Coordination Committee (NEDA-ICC) approved yesterday the proposal for the Ninoy Aquino International Airport’s (NAIA) rehabilitation project.
Socioeconomic Planning Secretary Ernesto M. Pernia said the consortium of seven conglomerates got the greenlight of the NEDA-ICC to proceed with the NAIA rehabilitation that follows the model for the Clark International Airport operations and maintenance (O&M) contract.
However, the NAIA project is still up for approval by the NEDA Board chaired by President Rodrigo R. Duterte.
The P102-billion unsolicited proposal from Ayala Corp., Aboitiz Equity Ventures, Alliance Global Group, Inc., Asia Emerging Dragon, Filinvest Development, JG Summit and Metro Pacific Investments Corp., seeks to operate and upgrade Metro Manila’s main gateway.
The unsolicited proposal, which was submitted to the Department of Transportation (DOTr) in February last year, aims to transform NAIA into a regional airport hub and expand its capacity to meet the anticipated growth in passenger traffic.
The DOTr earlier returned the unsolicited offer of NAIA Consortium after the government decided to standardize and pattern the draft contract to the operation and maintenance contract of Clark International Airport which covers provisions for MAGA or material adverse government action.
Under the clause, proponents will only be compensated for adverse government action from the executive branch and not for any change in future laws.
If MAGA occurs during the operation and maintenance period, the project proponent is entitled to compensation equal to the additional costs incurred and/or loss of revenue.
The P102-billion proposal involves expanding and interconnecting the existing terminals of NAIA, upgrading airside facilities, developing commercial facilities to increase airline and airpot efficiencies, enhancing passenger comfort and experience and elevating the status of NAIA as the country’s premier international gateway.
Source: Manila Bulletin