MANILA - The National Economic and Development Authority (NEDA) Board on Monday said it has approved the concession agreement negotiation report for the Bulacan International Airport.

The agreement is between the Department of Transportation (DOTr) and San Miguel Holdings Corp (SMHC), NEDA said in a statement.

The unsolicited public-private partnership (PPP) proposal involves the construction, operation and maintenance of the airport on a 2,500-hectare land in Bulakan, Bulacan, the statement said.

The government approved the P735.63-billion unsolicited proposal in April.

Key features of the Bulacan International Airport Concession Agreement include no government guarantee or any form of subsidy, NEDA said.

Following the NEDA Board meeting, the DOTr will proceed with finalizing the concession agreement and convey the NEDA Board approval of the report to SMHC.

The revised CA will go through a final review of the Office of the Solicitor General and the Department of Finance before it is advertised to parties for a Swiss challenge.

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