'Super Consortium' among 7 firms for NAIA's much needed modernization

'Super Consortium' among 7 firms for NAIA's much needed modernization

“WOW Philippines” to its more modern tagline “Its more Fun in the Philippines”- but it can only do so much when the attractiveness of the different destinations in the country, the first thing the tourists/investors will see is our dilapidated airport.

Economists have long said the Philippines is an attractive destination for investors, but its infrastructure - once among the most advanced in the region - has become a logistical headache as the economy and population expand rapidly.

The Ninoy Aquino International Airport has a designed capacity of 31.5 million passengers per year, currently estimates have it serving around 40 million passengers per year. As a result airlines and passengers  suffer chronic delays because of congestion at the airport. *

NAIA is up for a major modernization, will the name be changed also? (photo credit to owner)

A report from the ABS-CBN website last December 5, states that seven  (7) of the country's biggest corporations eye forming a 'super consortium' for the rehabilitation and modernization of the Ninoy Aquino International Airport (NAIA).

The seven (7) companies are composed of the following : Ayala Corp., LT Group, Filinvest, JG Summit Holdings, Aboitiz Equity Ventures, Metro Pacific Investments, and Megaworld Corp.

The report also said the planning and the expansion of the Philippines busiest airport was put on hold as the government comes up with a comprehensive Luzon air gateway master plan.

September of last year, a Philippine inter-agency panel chaired by President Rodrigo Duterte approved for auction a P74.56 billion ($1.57 billion) contract to overhaul Manila's over-stretched international airport.

The Philippines is a nation that is in need of badly upgrading its aging roads, ports and airports to further stimulate one of the world's quickest-growing economies, and to meet a long-overdue need for an infrastructure revamp to maintain competitiveness.

The Ninoy Aquino International Airport (NAIA) development is the first public-private partnership (PPP) project approved by the National Economic and Development Authority (NEDA) Board since Duterte assumed office .

The National Economic and Development Authority ( NEDA)  has approved the upgrading of NAIA with an indicative cost of P74.56 billion ($1.65 billion). 

The seven groups are planning on working together to finally have this infrastructure project implemented.  *

Under the plan, the private partner/s will improve, upgrade and enhance the operational efficiencies of all existing terminals of the NAIA covering both landside and airside (except air traffic services), to meet International Civil Aviation Organization (ICAO) standards and develop the main gateway airport of the Philippines.
report from abs-cbn website

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