Manila International Airport Consortium (MIAC) on Monday put forward a multi-phased masterplan to upgrade Ninoy Aquino International Airport (NAIA), for PHP267 billion ($4.8 billion).
According to Monday’s filing, Ayala Corp., whose subsidiary AC Infrastructure Holdings Corp is part of the MIAC Consortium, said they plan to double the declared capacity of NAIA to around 70 million passengers per year, fro, the current 31 million.
The Consortium also noted that the total aggregate investment under the unsolicited proposal is PHP267 billion, including a PHP57 billion ($1.02 billion) upfront concession payment to the government.
The NAIA masterplan has 3 phases of development, which include increases in capacity, reliability, and overall improvements in passenger experience. MIAC said Phase 1 will increase the airport’s capacity to 54 million passengers by 2025, improve reliability, and reduce queuing times throughout the airport over the next two years.
Phase 2 will increase the airport’s capacity to 62.5 million per year by 2028 by expanding terminal floor areas, adding airfield facilities, and improving cross-terminal transportation. And Phase 3 will further increase the NAIA’s capacity to 70 million by 2048.
MIAC is a joint partnership between the Philippines’ largest conglomerates, including Newport World Resorts parent Alliance Global Group, JG Summit Infrastructure Holdings Corp, Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Asia’s Emerging Dragon Corporation, Filinvest Development Corporation, and Global Infrastructure Partners.
“The Manila International Airport Consortium recognizes the immense task of transforming NAIA to meet the exponentially growing demands of Mega Manila air travel, not only here and now but also in the future,” said Alliance Global vice chairman and CEO Kevin Tan.
“It is because of this that the members of the Consortium have pooled together its significant resources, technical expertise and operational experience to put forward a NAIA Masterplan,” Tan added.
