In a significant development for the country's aviation infrastructure, the consortium led by San Miguel Corp. (SMC) has emerged victorious in the bidding for the P170.6 billion Ninoy Aquino International Airport (NAIA) rehabilitation project. The announcement was made by Transport Secretary Jaime Bautista on Friday, February 16, 2024.
Bautista expressed satisfaction in awarding the project to the winning bidder, the SMC SAP & Co. Consortium, highlighting their compelling proposal. The consortium secured its front-runner position by offering a substantial revenue share with the government, 82.16%, more than double that of its competitors.
During a press briefing, Transportation Undersecretary Timothy John Batan emphasized the efficiency of the project development process, noting that the entire Public-Private Partnership (PPP) procedure took only around 12 months. Batan remarked that this made it one of the fastest-solicited PPP projects in the history of the Philippine government.
The process officially commenced by signing a "transaction advisory services agreement" with the Asian Development Bank on February 2, 2023. Subsequent steps included obtaining the National Economic and Development Authority's approval of feasibility studies and the formal invitation to bid in August 2023.
Transport Secretary Bautista commended the expeditious process, stating, "We worked hard to see to it that these are implemented in the fastest possible time because we think that this is a significant project."
The notice of award (NOA) was issued to the SMC SAP & Co. Consortium on the same day as the announcement. The contract signing for this high-profile infrastructure project is scheduled for the following month.
In a competitive field, the SMC SAP & Co. Consortium surpassed its rivals—the GMR consortium, proposing a 33.3% share, and the Manila International Airport Consortium, offering a 25.91% share.
The NAIA rehabilitation project encompasses a comprehensive upgrade, including the refurbishment of passenger terminals and airside facilities, such as the runway, aircraft parking area, and airfield lighting. Additionally, the project aims to provide facilities that facilitate intermodal transfers at the terminal.
The consortium is granted a 15-year concession period to implement the project, with the possibility of a 10-year extension if deemed necessary. This development marks a crucial step in enhancing the country's aviation infrastructure and signals a significant investment in the modernization of NAIA.
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