The NAIA rehabilitation takes off as the Philippine government and the consortium led by Ramon Ang's San Miguel Corporation sign the concession agreement
The NAIA rehabilitation takes off as the Philippine government and the consortium led by Ramon Ang's San Miguel Corporation sign the concession agreementMANILA, Philippines – The Philippines’ main gateway is set to get its much needed facelift, free of bed bugs and better runways, as President Ferdinand Marcos Jr. and the consortium led by Ramon Ang’s San Miguel Corporation inked the landmark concession agreement for the Ninoy Aquino International Airport rehabilitation on Monday, March 18.
The Department of Transportation issued the Notice of Award to SMC-SAP & Co. Consortium, which comprises San Miguel Holdings Corporation, RMM Asian Logistics Incorporated, RLW Aviation Development Incorporated, and Incheon International Airport Corporation last February 16. “We welcome this development for the NAIA PPP Project as this will not only generate revenue for the government but it will also create opportunities for Filipinos. With a modernized NAIA, we are elevating the airport’s facilities and services to international standards,” Transportation Secretary Jaime Bautista said.
With the signing of the Concession Agreement, the operations and maintenance of the airport will be handed over to the Concessionaire on or before September 2024., NAIA ranked as the fourth worst airport in Asia for business travelers, with an average rating of 2.78 over 10. Only Saudi Arabia’s King Abdulaziz International Airport , Kazakhstan’s Almaty International Airport , and Kuwait International Airport ranked worse..
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