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SMC bags NAIA rehabilitation project

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SMC SAP and Co. Consortium won the ₱170.6 billion project to rehabilitate and operate the Ninoy Aquino International Airport (NAIA) as revealed by Department of Transportation Secretary Jaime Bautista today, February 16.

The SMC-SAP group is composed of San Miguel Corporation, RMN Asian Logistics, RLW Aviation, and Incheon International Airport Corp. offered the biggest revenue share of 82.16 percent to the government. While the other two qualified bidders, GMR Airports Consortium and Manila International Airport Consortium (MIAC), have proposed revenue shares of 33.3% and 25.9%, respectively.

GMR Airports Consortium is composed of GMR Airports International B.V., Virata-led Cavitex Holdings, Inc., and Yuchengco-led House of Investments, Inc.

The MIAC consortium is composed of companies owned by the country’s tycoons, namely, Aboitiz InfraCapital, Inc., Ayala-led AC Infrastructure Holdings Corp., Andrew L. Tan’s Alliance Global Infracorp Development, Inc., Lucio Tan’s Asia’s Emerging Dragon Corp., Gotianuns’ Filinvest Development Corp., Gokongwei-led JG Summit Infrastructure Holdings Corp., and GIP EM MIAC Pte., Ltd.

Apart from the revenue share of 82.16 percent that San Miguel-led consortium offered, they are also required to pay an advance payment of ₱30 billion and ₱2 billion annually as agreed with the Department of Transportation.

Meanwhile, San Miguel Corporation welcomed the Department of Transportation’s decision to award the project to the RSA-led group to rehabilitate, maintain and operate the Ninoy Aquino International Airport.

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