“Aside from the P30-billion upfront payment, there is a commitment to spend P130 billion for mandatory infrastructure that should be implemented within the next five years,” Transportation Secretary Jaime Bautista said.
Bautista said the department would publish the invitation to bid for NAIA by the first week of August and schedule the submission of bids after two months.“The financial closing will take about three to six months, so hopefully by the middle of 2024, the winning bidder can start the concession agreement,” Bautista said.
The NAIA privatization project aims to address longstanding issues at NAIA such as the inadequate capacity of passenger terminal buildings and restricted aircraft movement.
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