Ang suggests ways to generate up to P2T in profits from NAIA property
MANILA - San Miguel Corp (SMC) said Friday it only intends to operate and maintain the Ninoy Aquino International Airport (NAIA), not rehabilitate the country's main gateway following news of its bid for the project.
SMC was considered the next major contender for the NAIA project after the Manila International Airport Authority (MIAA) revoked Megawide's original proponent status (OPS) to rehabilitate the airport.
“Our interest in NAIA does not intend to replicate what Megawide had in mind for NAIA. Our proposal is brought on only by the need to have it running effectively and safely for the Filipino people, until our Bulacan airport project is up. And until our airport is ready, that task needs to be done," Ramon Ang, SMC president and chief operating officer, said in a statement.
"We are also leaving it up to the government to decide on what to do with the NAIA in the future,” he added.
This pitch was included in SMC's original proposal for the Bulacan airport, so it could improve NAIA operations under a 10-year concession before the delivery of the provincial port.
Ang also noted that SMC is "not interested in the revenues" in its NAIA bid.
"We want to improve NAIA for the passengers. We want it to be run more efficiently, for service levels to be improved, until the new airport is operational. All revenues will go to MIAA,” the SMC chief said.
Ang further suggested the government could generate as much as P2 trillion in earnings by selling or redeveloping the 646-hectare property surrounding the airport. The property sits in an area on two cities: Parañaque and Pasay.
The NAIA complex, which is 2.5 times bigger than commercial hub Bonifacio Global City in Taguig, could accommodate commercial or residential developments to yield more earnings than airport fees, he added.
SMC will start construction of the Bulacan airport by the first quarter of 2021.