MANILA - The "super consortium" of 7 conglomerates seeking to overhaul the Ninoy Aquino International Airport said Tuesday it submitted its unsolicited proposal to government, promising to turn the terminal into a regional hub.

The P350-billion project will improve and expand the current NAIA terminals under the first phase, while the second phase will involve the construction of a second runway, which will raise its capacity to 100 million passengers per year, the consortium said in a statement.

Aboitiz InfraCapital, AC Infrastructure Holdings, Alliance Global Group, AEDC, Filinvest Development, JG Summit Holdings and Metro Pacific Investments Corp also signed a memorandum of agreement formalizing the venture, the partners said in a joint statement.

The seven companies said they have a combined capitalization of P2.2 trillion.

• 7 firms eye 'super consortium' for NAIA modernization

"Through this proposal, we envision a new NAIA: a fully-integrated premier gateway that we Filipinos can truly be proud of, backed by the know-how of an experienced technical partner and the strong synergy of seven homegrown teams," said consortium spokesperson Jose Emmanuel Reverente.

"The message is clear: We need this, and we can get this done,” he said.

Changi Airports International, which operates Singapore's terminal that has been hailed as among the best in the world, will provide technical support to the "super consortium," according to the statement.

The upgrades will bring NAIA at par with Changi and Suvarnabhumi in Bangkok, the statement said.

Travel website Sleeping in Airports last year selected Changi as the best in the world. It also removed NAIA from the list of Asia's worst air terminals.

• NAIA out of Asia's worst list, 4 provincial airports among 25 best