A NAIA public-private partnership proposal has been greenlit by the Philippines’ economic authority.
In a press briefing on Wednesday, the board of the National Economic Development Authority or NEDA announced that it had accepted the Php 170.6 billion solicited proposal for the improvement of the Ninoy Aquino International Airport in Manila.
According to Socioeconomic Planning chief Arsenio Balisacan, the project would be under the Department of Transportation (DOTr) and the Manila International Airport Authority (MIAA).
In the set-up, there would be a 15-year-concession period, with an option to extend it for another ten (10) years.
With the public-private partnership given a go signal, the Php 267 billion bid made by the Manila International Airport Consortium had already been terminated or turned down.
The project will encompass improving the airports capacity from the current 35 million to 62 million passengers annually, increasing plane movements per hour from 40 to 48, and the terminals themselves, among others.