Singapore’s Changi Airport Group is keen in taking a 30 percent interest in the consortium that submitted an unsolicited proposal to rehabilitate and expand the Ninoy Aquino International Airport for P350 billion, according to the top executive of Metro Pacific Investments Corp.
MPIC chairman Manuel Pangilinan said members of the Naia Consortium “have agreed in principle” that Changi Airport would get 30 percent, while the remaining 70 percent will be shared by the seven members with 10 percent each interest in the project.
The consortium’s members are Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Alliance Global Group Inc., AEDC, Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments.
Naia Consortium tapped world’s premier airport operators Changi Airports International Pte. Ltd. to provide technical support in the areas of master planning, operations optimization and commercial development. The group is committed to the development of a modern airport complex that will meet the long-term passenger demand at Naia.
The proposal involves expanding and interconnecting the existing terminals of Naia, upgrading airside facilities, and developing commercial facilities to increase airline and airport efficiencies, enhance passenger comfort and experience, and improve public perception of Naia as the country’s premier international gateway.
The project is divided into two phases. Phase 1 includes improvements and expansion of terminals in the current Naia land area, while Phase 2 involves the development of an additional runway, taxiways, passenger terminals and associated support infrastructure. The group is proposing a 35-year concession period.
The consortium plans to spend P100 billon for Phase 1 and P250 billion for Phase 2.
Construction of the additional runway will ensure the ability of Naia to serve as Manila’s gateway for years to come, bringing potential capacity up to 100 million passengers per year from over 40 million passengers last year.
The upgrades will elevate Naia to the level of major regional airports such as Changi in Singapore and Suvarnabhumi in Bangkok and will become a viable transit hub in southeast Asia.
The Department of Transportation earlier said it expects the evaluation for the Naia rehabilitation in two months.