Gov’t 'terminating' NAIA consortium rehab proposal: Ayala Corp


Posted at Jul 13 2020 10:48 AM | Updated as of Jul 13 2020 05:14 PM

Gov’t 'terminating' NAIA consortium rehab proposal: Ayala Corp 1
Chinese Nationals don Personal Protective Equipment (PPE) as they arrive at the departure area of the Ninoy Aquino International Airport (NAIA) in Pasay City on May 22, 2020. Jonathan Cellona, ABS-CBN News/File

MANILA (UPDATE)-- The Manila International Airport Authority (MIAA) is "terminating" negotiations and revoking the original proponent status granted to the NAIA Consortium for the main gateway's rehabilitation project, consortium member Ayala Corp said Monday. 

Any further negotiations will be terminated, according to a letter sent by the MIAA to the consortium on July 10, Ayala Corp told the stock exchange. 

Ayala's AC Infrastructure Holdings Corp is part of the consortium with JG Summit, LT Group, Filinvest Development Corp, Alliance Global Group Inc, and Aboitiz Equity Ventures.

"Ayala Corporation’s wholly owned subsidiary AC Infrastructure Holdings Corp., received a letter from the Manila International Airport Authority (MIAA) on 10 July 2020, notifying the NAIA Consortium that MIAA is terminating any further negotiations with the Consortium on the NAIA unsolicited proposal and withdraws/revokes the Original Proponent Status and approvals earlier granted," Ayala Corp said. 

The letter was in response to the consortium's July 6 letter informing the government that the members would have difficulty obtaining financing for the unsolicited project in its current form.

Finance Secretary Carlos Dominguez said last Wednesday that two other proponents were "very willing" to take over the project in place of the consortium. 

MIAA General Manager Ed Monreal on Monday confirmed that there were two other groups who supposedly expressed interest in the rehabilitation of the country's main gateway but noted that he was not privy to discussions.

"Hindi pa po yun pinal kailangan pa pong pag-usapan ang lahat ng panuntunan gaya po ng dating na-approve," he said.

(That's not final yet because all of the guidelines have to be discussed like the previously approved one.)