7 big companies in talks over NAIA redevelopment

A planned consortium of at least seven of the biggest companies in the Philippines is now in talks regarding the modernization of the Ninoy Aquino International Airport (NAIA), the country's main gateway.

In separate but related regulatory filings, seven companies said they intend to participate in the development of NAIA, which the government valued at P74.56 billion.

The are Aboitiz Equity Ventures Inc., Alliance Global Group Inc., Ayala Corp., Filinvest Development Corp., JG Summit Holdings Inc., LT Group Inc., and Metro Pacific Investments Corp. (MPIC).

"We confirm that we are in discussions with several business groups to participate in a project involving the Ninoy Aquino International Airport," MPIC said.

At this point, however, no final commitments have been made.

"We wish to clarify that the discussions are still in the exploratory phase and no firm commitments or formal agreements have been reached, including on the composition of the consortium," Ayala Corp. said.

The P74.56-billion project is supposed to be a public-private partnership (PPP) project, encompassing the improvement, upgrade, and enhancement of the operational efficiencies of all existing terminals of the NAIA.

The project is expected to improve and upgrade the airport so it meets the International Civil Aviation Organization standards.

San Miguel Corp. said earlier it intends to make a bid for the project. It was not included on the list of firms planning to form a consortium. — Jon Viktor Cabuenas/VDS, GMA News