Rappler
What’s inside MIAC’s P267-B plan to privatize and rehabilitate NAIA?
The Manila International Airport Consortium (MIAC) has unveiled a P267 billion master plan to rehabilitate and develop the Ninoy Aquino International Airport (NAIA).
MIAC, composed of several of the country's biggest conglomerates, aims to double NAIA's capacity from 31 million passengers per year to around 70 million in the long run.
The multi-phased unsolicited proposal includes P211 billion in capital investments, with P57 billion to be spent in the first five years.
MIAC's proposal also features a P57 billion upfront concession payment to the government, the largest ever for a transportation Public-Private Partnership (PPP) project in the Philippines.
Over the 25-year concession period, the government is expected to receive an additional P280 billion through revenue sharing and taxes.
The planned rehabilitation is projected to generate P446 billion in gross economic value, including contributions to tourism, passenger comfort, time savings, and job creation.
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