The Department of Transportation (DOTr) is scheduled to sign on Monday, 18 March, the concession agreement with San Miguel Group and pave the way for the anticipated rehabilitation, operation, and maintenance of the Ninoy Aquino International Airport (NAIA) under private hands.
The agreement signifies the official start of the NAIA upgrade. The San Miguel Group won the contract in a bidding process by offering the government an 82.16 percent revenue share.
The DOTr said the signing ceremonies with the SMC-SAP Group is set on Monday next week at 8:30 am, Kalayaan Hall in Malacanang vice the original 15 March schedule.
The private investors rescheduled the signing of the concession pact to accommodate President Marcos’ schedule.
The contract marks the beginning of a 25-year transformation for the country’s busiest airport soon generating P900 billion in revenue throughout the concession period.
Official turnover of the NAIA facility to the San Miguel Group is seen likely in September this year.
San Miguel had said its proposal is meant not only to elevate the NAIA to world-class standards but also to ensure the government benefits from the revenue-sharing agreement.
“This aims to secure a favorable outcome for our shareholders while prioritizing fairness and long-term sustainability,” San Miguel said.
The NAIA project requires capital investments 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 airport capacity to 62 million passengers a year, enhancing asset quality and passenger experience, improving its information and technology systems infrastructure and ensuring reliable operations over the period of the concession.
The concessionaire is responsible for both land side and airside operations of the NAIA.
