MANILA – The start of the rehabilitation of the Ninoy Aquino International Airport (NAIA) will depend on how quickly the government would finish its review of the NAIA Consortium's proposal, a consortium member said Thursday.
The Manila International Airport Authority (MIAA) and the NAIA Consortium are still discussing the “finer details” of the concession agreement for the rehabilitation, Aboitiz InfraCapital vice president Jimbo Reverente told ANC.
“It will really depend on the extensive discussions going on right now and the speed [at which] the government will process our proposal,” said Reverente, whose firm is part of the NAIA consortium.
“Our discussions have been going on quite extensively so we believe there’s a strong will to get this done,” he added.
The consortium expects to begin operations late this year if the National Economic and Development Authority (NEDA) approves the proposal, Reverente said.
"Nevertheless, this could happen earlier if the government fast tracks the approval process," he said.
The “NAIA Consortium" is made up 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 consortium was granted the “original proponent status” in August last year and plans to expand NAIA’s capacity to 65 million from 31 million passengers annually.
Its earlier P350-billion proposal was revised to P102 billion with a 15-year concession period.
The rehabilitation plan has to go through NEDA's Investment Coordinating Committee and a Swiss-challenge before implementation.