THE modernization of the country’s main gateway is expected to pay instant dividends as the concession agreement for the Ninoy Aquino Internatinal Airport (NAIA) Public-Private Partnership (PPP) is expected to bring in P900 billion of earnings for the national government.
The NAIA PPP, over the course of its 25-year agreement with the winning concessionaire, will allow the government to earn P36 billion annually and redirect its earnings to other social and infrastructure projects.
With Friday’s announcement of the winning concessionaire for the NAIA modernization, the government would secure from the SMC-SAP Co. Consortium a guarantee of P30 billion as upfront payment and P2 billion annual payments, according to the Department of Transportation (DOTr).
In comparison, the Manila International Airport Authority (MIAA) alone has remitted P23.3 billion from the period of 2010 to 2023 or P1.78 billion annually.
On Friday, the transport agency announced that the concession agreement for the modernization of the NAIA has been awarded to the SMC-SAP consortium under a solicited PPP scheme.
The last major capacity expansion of NAIA was in 2008, when its Terminal 3 was operationalized, leading to its current capacity of 35 million passengers annually.
metrosundaily
