MANILA, Philippines —The consortium led by San Miguel Corp. (SMC) has emerged the front-runner in the race for the highly coveted P170.6-billion Ninoy Aquino International Airport (Naia) rehabilitation project after submitting the highest proposed revenue share with the government, a key consideration for the winning bid.
The SMC SAP & Co. Consortium proposed a revenue share with the government of 82.16 percent—more than double that offered by its two competitors.
Joining SMC in the airport bid are local companies RLW Aviation Development Inc., RMM Asian Logistics Inc. and Korean airport operator Incheon International Airport Corp.
READ: Three groups qualify to bid for the P170.6-billion Naia contract
GMR Airports Consortium followed the SMC-led consortium with 33.3 percent.
One out, three left
The GMR consortium includes GMR Airports International BV, a member of the group operating the Mactan-Cebu International Airport, and House of Investments Inc. and Cavitex Holdings, both of which are part of the consortium that won the $11-billion Sangley Point International Airport project.
Coming in last was the Manila International Airport Consortium (MIAC), the group that initially submitted a P267-billion unsolicited Naia upgrade proposal, with the proposed share of 25.91 percent.
MIAC comprises Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Asia’s Emerging Dragon Corp., Alliance Global-Infracorp Development Inc., Filinvest Development Corp., JG Summit Infrastructure Holdings Corp. and Global Infrastructure Partners.
Four firms were expected to submit their bids but the contest was trimmed to three players after the Department of Transportation (DOTr) disqualified Asian Airport Consortium—led by tycoon Lucio Co and businessman Jefferson Cheng—for failing to meet all the terms of reference of the project.
On Thursday, the DOTr’s prequalification bids and awards committee opened the financial proposals to determine the highest bid from the proponents.
Winner to be named on Feb 15
The transportation department previously said the bidder who can provide the government the most revenues will be the likely winner. The terms of reference for the big-ticket public-private partnership project mandate that the government will have a share in Naia’s revenue generation from commercial and noncommercial operations.
READ: More PH airports a must in postpandemic era
This is on top of the winning concessionaire’s P30-billion upfront cost and annual annuity payment of P2 billion.
Based on the project timeline, the winner will be named on Feb. 15.
In a statement, SMC chief executive officer Ramon Ang said his consortium was prepared to take on the challenge of upgrading the country’s main international gateway, which has been a subject of complaints from passengers due to operational inefficiencies.
“Our vision is to create an integrated airport network that not only improves the travel experience but also supports sustainable economic growth and elevates the Philippines as a prime hub for tourism, business and investment in the region,” he said. INQ