MANILA (UPDATE) - MANILA – A new consortium, composed of some of the biggest conglomerates in the Philippines and a global partner, is looking to upgrade the Ninoy Aquino International Airport.

Calling itself the Manila International Airport Consortium (MIAC), the group has submitted an unsolicited proposal worth P100 billion to “transform NAIA into a world-class airport.”

MIAC is composed of Aboitiz InfraCapital, AC Infrastructure Holdings Corporation, Asia's Emerging Dragon Corporation, Alliance Global – Infracorp Development, Filinvest Development Corporation, and JG Summit Infrastructure Holdings Corporation. Another member of MIAC is Global Infrastructure Partners, which invests in infrastructure and operates airports around the world.

The consortium said the proposal includes a significant upfront payment to Government and committed investments in new facilities and technology.

“We are ready to put our combined resources forward in partnering with the Government on this massive undertaking,” said Kevin Tan, director, Manila International Airport Consortium.

Tan said MIAC “brings unrivalled expertise, proven solutions and extensive capital."

"As the only large-scale operating gateway airport to the Philippines, the modernization and long-term sustainability of NAIA is a critical development priority for both the country’s public and private sectors," he added.

The consortium said its investments could lead to the improvements in NAIA which is seen to scale up its capacity to serve up to 62.5 million passengers per annum (MPPA) by 2028, or more than double its current design capacity of 31 million. It said the passenger traffic had reached 48 million in 2019, underscoring the need for upgrade.

“Domestic and international connectivity are keys to unlock economic growth to take the country to upper middle-income status. We look forward to a very near future where we in the private sector are working hand in glove with the government to operate an efficient and future-ready international gateway in and out of a more prosperous Philippines,” Tan said.

Earlier proposals to rehabilitate NAIA had failed as the government rejected the terms of the proponents or questioned their ability to finance the undertaking.

Economic managers have said the goverment is eyeing private firms to help in the NAIA rehabilitation.

- with a report from Mimi Ong, ABS-CBN News

• NAIA rehab hits a snag as govt 'not willing' to accept consortium's revised proposal
• Transport dept eyes rebidding NAIA rehab this year
• NAIA rehab hits new snag, as Megawide original proponent status gets revoked

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