A consortium led by San Miguel Corp. and South Korea’s Incheon International Airport Corp. emerged as highest bidder for the P171 billion rehabilitation, operation and maintenance project of the Ninoy Aquino International Airport.
At the opening of financial proposals on Thursday, the SMC SAP Company Consortium, formed by San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc. and Incheon International Airport Corp. offered the highest bid of 82.16 percent revenue share to the government.
Under the terms of reference, the revenue share of government is the main bid parameter. This means the proposed revenue share to government advanced by SMC and partners is superior.
The other bidders that submitted financial bids were the Manila International Airport Consortium composed of Aboitiz InfraCapital, Ayala’s AC Infrastructure Holdings Corp., Alliance Global-Infracorp, Filinvest and JG Summit Holdings (25.91 percent) and GMR Airports International B.V., Cavitex Holdings Inc. and House of Investments, Inc. of GMR Airports Consortium (33.3 percent).
Asian Airport Consortium was disqualified for failure to comply with the technical proposals for NAIA.
Roberto Lim, DOTr undersecretary for aviation said the Asian Airport Consortium was determined by the Pre-qualifications, Bids and Awards Committee (PBAC) as non compliant.
The Asian Airport Consortium groups the Asian Infrastructure and Management Corp., Cosco Capital Inc., Philippine Skylanders Inc. and PT Angkasa Pura II.
This means only three bidders will proceed to the next stage when the PBAC opens the financial proposals.
Timothy John Batan, PBAC chairperson, also said one bidder has disputed the process and the PBAC will resolve it before 14 February.
But even then, Batan said the financial bid evaluation will proceed even as the dispute is being resolved.
The results of the financial evaluation would be announced on 14 February.
The government will issue the notice of award the following day and the winning bidder has until 6 March to submit the post-award requirements.
The DOTr expects to sign the concession agreement with the winning bidder on March 15, with the turnover of the facility likely in September this year.
Under the terms, the winning consortium provides an upfront payment of P30 billion to government as premium and another P2 billion in annuity payments.
The DOTr and the Manila International Airport Authority (MIAA) serve as co-grantors of the project, which has a 15-year concession period and a 10-year option for extension.
The NAIA project requires capital investment to improve the airport’s facilities consistent with the International Civil Aviation Organization (ICAO) and other internationally accepted standards.
This means modernizing the terminals, optimizing and enhancing the capacity of the airport to 62 million passengers a year, enhancing asset quality and passenger experience, improving the information and technology system and ensuring reliable operations over the period of the concession.
