San Miguel Corporation (SMC) on Monday bared plans to spend up to P5 billion to build a new off-ramp at Terminal 3 of the Ninoy Aquino International Airport (NAIA) from the NAIA Expressway to help ease traffic congestion in the area and improve accessibility to the country’s main international gateway.
“I think [the project is estimated to cost] P3 billion to P5 billion. We already have the permit from the Pasay local government unit and the Toll Regulatory Board,” Ramon S. Ang, president and chief executive at San Miguel, told reporters.
Construction of the new off-ramp has already begun and seen completed within 12 months.
Ang also said the New NAIA Infra Corp. is ready to take over the operations and maintenance (O&M) of the country’s main international gateway by 14 September this year as scheduled.
“You will see a lot of improvements in November,” Ang said.
The NNIC is composed of San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc. and Incheon International Airport Corp.
NNIC, formerly the SMC SAP & Co. Consortium signed a P170.6-billion contract in March to operate, maintain and upgrade the NAIA for 15 years, extendible for another 10 years.
The Department of Transportation (DOTr) later said the NNIC will invest P88 billion in the NAIA in the first six years of the concession.
Apart from passenger convenience, the government projects generating revenue of P900 billion over the course of the 25-year concession period, inclusive of the P30 billion upfront payment, P2 billion annual payment and the 82 percent government revenue share.
The project requires capital investments to improve the airport’s facilities in step with the International Civil Aviation Organization (ICAO) and other internationally-accepted standards.
The concessionaire is responsible for both the land and airside operations of the NAIA and required to undertake works enhancing the compliance, safety and security of the airport, optimize and boost airport capacity to cater to the increasing air traffic and in accordance with parameters provided in detail in the concession agreement.
