“If there are more than one participant we would have to talk to all of them in the process so it will take time,” said Lim.Lim, in the same interview, also said the concessionaire would have to commit to investing P141 billion in Naia facilities, along with an upfront payment of P30 billion, annuity payments of P2 billion, and a share of Naia’s total revenue generated from its commercial and non-commercial operations which is expected to reach billions.
“The total project cost is P141 billion, so that is the investment that is required to upgrade, rehabilitate and expand NAIA, so the winning bidder needs to pay cash and make an investment commitment for the duration of the concession period,” he added. “So in other words, we’re creating more funds available for other critical sectors the government needs to address. Since we know that the private sector is interested in investing in the airport sector we might as well use PPP as the mechanism,” said Lim.
It can be recalled that the DOTr previously said that the PPP project aims to increase the capacity of Naia.