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Saturday, April 13, 2024

Co joins bidding for NAIA operation

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Retail tycoon Lucio Co is joining the P170.6-billion bidding to rehabilitate, optimize and maintain the Ninoy Aquino International Airport (NAIA).

Cosco Capital Inc., the listed holding firm of Co, said in a disclosure to the stock exchange it would join a consortium that would participate in the government’s plan to bid out the NAIA’s rehabilitation and operation.

 “In its special meeting held Dec. 22, 2023, the board of directors has approved Cosco Capital Inc. to participate, through a consortium, in the bidding for the Ninoy Aquino International Airport PPP Project and the subsequent submission of qualification documents and bid proposals for the project,” Cosco said.

“The company will disclose developments as the bidding process unfolds,” it said.

Seven companies earlier bought bid documents for the project, including San Miguel Holdings Corp., Manila International Airport Consortium, Cengiz Insaat Sanayi ve Ticaret A.S., GMR Airports International, Spark 888 Management, Asia Airport Consortium and Incheon International Airport Corp.

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The project aims to improve the airport’s annual passenger capacity to at least 62 million from 35 million.

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