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New investors for NAIA rehab

The government is discussing with two new potential investors the government’s much delayed plan to rehabilitate the Ninoy Aquino International Airport (NAIA) in case the consortium of local big business withdraws its P102 billion project offer, according to Finance Secretary Carlos G. Dominguez III.

The consortium of six companies had communicated that the original terms and conditions of the NAIA Rehabilitation Project are currently not viable given the adverse impact of the COVID-19 pandemic on the local aviation industry.

The consortium is composed of Aboitiz InfraCapital, Inc; AC Infrastructure Holdings; Alliance Global Group; Asia’s Emerging Dragon; Filinvest Development; and JG Summit Holdings.

“I got a copy of the letter of the NAIA Consortium, saying that (with) the current economic situation, they are not confident they can finance the project or push through with it,” Dominguez said.

“However, I understand that the Department of Transportation (DoTr) under Secretary Arthur Tugade as well as Vince Dizon who heads the infrastructure project are in conversation with two more potential proponents for the NAIA project,” he added.

Dominguez said the two potential project proponents, which he refused to identify, are willing to get into agreement with the government which is very similar to the terms originally set forth under the NAIA Rehabilitation Project.

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