Philippine Tycoons Raise Proposed Investment To Upgrade Airport To $4.8 Billion Amid Tourism Boom

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The Manila International Airport Consortium said it will spend as much as 267 billion pesos ($4.8 billion) to upgrade the country’s congested main international gateway amid a post-pandemic tourism boom.

, which has interests in airports across London and Sydney, to modernize the Ninoy Aquino International Airport and more than double its capacity to 70 million passengers a year by 2048 from 31 million currently.

The project will be implemented in phases, with the first phase expected to bring NAIA annual passenger capacity to 54 million by 2025 and then to 62.5 million by 2028. The consortium budgeted 100 billion pesos when it proposed the project in April. “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 in the here and now but also in the future,” Kevin Tan, chairman and president of Alliance Global-InfraCorp Development. “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.

 

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