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The major international airport upgrade project attracted four bidders and cost 170.6 billion pesos (about $3 billion), according to the Philippine Department of Transportation.
The aging Ninoy Aquino International Airport, the fifth-largest airport in Southeast Asia and considered one of the worst international gateways in the world, is in dire need of an upgrade to address long-term flight delays and passenger congestion.
The Minister of Transport said it was an important project to enhance the passenger experience. Bidders include the Manila International Airport Alliance, the Asian Airports Alliance, the GMR Airport Alliance, and the SMC SAP & Co Alliance. The concession is expected to be granted in the first quarter for a 15-year period, with the possibility of a further 10-year extension.
The goal is to serve at least 60 million travelers annually after the upgrade, boosting tourism in the Philippines as Asia’s fastest-growing economy.
(Source: Reuters Image source: freepik)
