The proposed Naia rehabilitation project by the Manila International Airport Consortium is projected to contribute $14.6 billion to the Philippine economy through direct investments and knock-on effects on trade and tourism. | TyronePiad /PDI
In a recent statement, the “mega consortium” backed by six of the country’s largest conglomerates said its Naia upgrade bid would cost $3.8 billion in total or roughly P210 billion—which is double the P100-billion project cost it had announced in April.The Inquirer learned that the P100 billion was only the initial portion of MIAC’s investments.Of the estimated investment, about $1 billion will be spent in the first five years while the remaining $2.
“This investment will be geared toward undertaking facility upgrades, maintenance work, implementing new operating processes and introducing new technologies that will increase passenger capacity, shorten waiting and processing times, introduce more comfortable and modern facilities, and provide better connectivity between terminals, among others,” the consortium noted.
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