Pangilinan's Metro Pacific wants out of NAIA 'super consortium'

ABS-CBN News

Posted at Mar 09 2020 01:01 PM

MANILA – Metro Pacific Investments Corp said Monday it informed its consortium partners of its “intent to withdraw” from the Ninoy Aquino International Airport rehabilitation project.

The company is thinking of leaving the “super consortium” chosen to rehabilitate the country’s main gateway and that other members have been informed of its "intent," Metro Pacific said in a disclosure to the stock exchange.

Metro Pacific was responding to a Philippine Star report that quoted chairman Manny Pangilinan as saying that the partners have the right to know. No other details were disclosed.

“We confirm the information contained in the quoted news article and have since advised our consortium partners of our intent to withdraw from this project,” Metro Pacific said in a disclosure to the stock exchange.

The super consortium is composed of the country’s 7 biggest conglomerates: 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’s P102 billion rehabilitation plan is expected to boost passenger capacity to 47 million.