NAIA modernization earns global award

The modernization of the Ninoy Aquino International Airport (NAIA) was hailed as “Transport Deal of the Year” during the Project Finance International’s (PFI) annual awards in London, United Kingdom (UK).

Accepting the award on behalf of the Department of Transportation (DOTr) was Secretary Jaime J. Bautista.

Sec. Bautista boasted that the NAIA modernization deal was one of the fastest and largest approved Public-Private Partnership (PPP) proposal in history, taking only six weeks to implement.

“More than speed, the project is also significant because – as PFI put it – quote: it “is possibly the largest brownfield airport PPP project effected anywhere in the world at the time of launch.” Sec. Bautista said during at the awarding ceremony.

The transport chief likewise recognized the Asian Development Bank (ADB) for aiding the DOTr on the milestone.

“This recognition must be shared with our transaction adviser, the Asian Development Bank, who stood by our side every step of the way. Our gratitude to ADB does not stop with the NAIA privatization as we look forward to several more PPP projects including the upcoming privatization of other airports in our country,” he said.

According to PFI, the NAIA modernization is “one of the most ambitious and impactful airport rehabilitation efforts in South-East Asia and globally.”

PFI is one of the most prestigious international award-giving bodies for infrastructure and utilities projects.