MANILA, Philippines — The Investment Coordination Committee-Cabinet Committee (ICC-Cabcom) of the National Economic and Development Authority (NEDA) has approved the unsolicited proposal for the rehabilitation and operation of the Ninoy Aquino International Airport (NAIA). A NEDA source said the ICC-CabCom approved the finalization of the draft concession agreement for the project by the Department of Transportation (DoTr) with the consortium based on the parameters cleared during the meeting. This includes the shortening of the original proposal to rehabilitate, operate and maintain the aging NAIA from 35 years to only 15 years. The NEDA source said the firm has another proposal for the O&M component alone that may also be reviewed by the ICC-CabCom. The source said DOTr is now exploring means of funding the addition of capacity either through loans or government funds.

Source: Philippine Star September 29, 2019 15:37 UTC