MANILA, Philippines – Asia’s Emerging Dragon Corp. (AEDC), which is owned and controlled by tycoon Lucio Tan, is planning to bid for the redevelopment of the Ninoy Aquino International Airport (NAIA) under the government’s public-private partnership (PPP) scheme.
“We are participating in the bidding because we firmly believe in the growth potential of our country’s premier airport, given our past experience of pushing for Philippine aviation development,” AEDC president Salvador Mison said.
AEDC said it would have a foreign partner when it submits the bid for the P74.6-billion project.
AEDC is confident it could provide viable solutions to NAIA’s inter-terminal connectivity as well as traffic congestion in the area.
AEDC’s foreign partner is expected to provide the technical expertise in its long-term proposal.
The National Economic and Development Authority approved last month the NAIA redevelopment project which involves the upgrade of the country’s main international gateway.
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In particular, the project is looking to improve the safety and security, as well as maximize the capacity of the NAIA through infrastructure or assets for air traffic and land side management.
In addition to the upgrade of the airport, the private partner will be responsible for the operations and maintenance of the NAIA according to international standards.
Under the deal, the concession period covers 15 to 20 years, including the design or construction.
Procurement for the project is expected to begin soon.
The award and signing of the concession agreement is expected by September next year.
Other major conglomerates Ayala Corp., San Miguel Corp. and Metro Pacific Investments Corp. are also interested to participate in the bidding for the project. – With Rudy Santos
