MANILA - The Investment Coordination Committee of the National National Economic and Development Authority on Friday approved the proposal to rehabilitate and maintain the Ninoy Aquino International Airport.
The NEDA ICC approved the P102-billion proposal of the NAIA consortium, made up of the country’s top conglomerates, after it was revised and "perfected," Socioeconomic planning secretary Ernesto Pernia told ANC.
“That’s kind of normal for projects especially unsolicited PPP projects. It’s not unusual that there’s back and forth couple of times or 3 times before a solicited proposal is approved,” Pernia told ANC.
Some provisions such as “warranty or any guarantee” was removed for the proposal, he said.
“One important thing about PPP project is that we don’t want the government to have to provide direct subsidy, warranty or any guarantee of any kind, direct guarantee....You know the concession agreement has to be perfected before it can pass the hurdle,” Pernia said.
The proposal will undergo a Swiss challenge, where a winner may be determined by early December, he said.
“It’s either the challenger wins or he or she losses and so the NAIA consortium will go ahead,” he said.
The super consortium is made up of 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 proposal was submitted in February 2018 and was granted the original proponent status in August the same year.