MVP group open to partners for new airport project
Updated November 28, 2016 – 12:00am
http://www.philstar.com/
MANILA, Philippines – The group of Manuel V. Pangilinan is open to partnering with other firms planning to build new airports amid congestion at the country’s main international gateway.
Amid worsening congestion at the Ninoy Aquino International Airport (NAIA), Pangilinan agreed to the country needs a new international airport.
Belle Corp., which is part of Sy’s SM group, has acquired a significant stake in All-Asia Resources and Reclamation Corp. (ARRC) which is led by the Tieng family.
ARRC has plans of building an international airport and seaport at a cost of $50 billion on a reclaimed land off the coast of Sangley Point in Cavite.
Ang, meanwhile, has proposed to establish of an “aerotropolis” in a 2,000-hectare complex in Bulacan that would feature four runways.
While Pangilinan is open to partnering with firms for a new airport, his group is also interested in the project seeking to upgrade the NAIA under the public-private partnership (PPP) scheme.
Approved by the National Economic and Development Authority board in September, the P74.6-billion NAIA PPP involves the upgrade of the NAIA by improving the safety and security, as well as maximizing the capacity of the airport through infrastructure or assets for air and land side traffic management.
Under the PPP deal, the winning private firm will also be responsible for the operations and maintenance of the airport according to international standards.
The concession period covers 15 to 20 years including the design and construction.
Pangilinan-led Metro Pacific Investments Corp. (MPIC) is currently involved in other infrastructure projects in the rail and tollways sectors under the PPP scheme.
