THE Department of Transportation intends to move forward with the rehabilitation of the Ninoy Aquino International Airport , an initiative that was shelved by the previous administration.
To recall, the Duterte government decided to discontinue the project, after halting negotiations with the Naia Consortium, a group of seven Filipino conglomerates that banded together to submit a P102-billion unsolicited proposal for the rehabillitation of the country’s main gateway. Naia Consortium is composed of Aboitiz InfraCapital Inc; AC Infrastructure Holdings Corp.; Alliance Global Group Inc.; Asia’s Emerging Dragon Corp.; Filinvest Development Corp.; JG Summit Holdings Inc.; and Metro Pacific Investments Corp.
Before the revocation, however, Megawide submitted documents supporting its claim that it can fund the project through its partnership with GMR, as well as the issuance of preferred shares to raise fresh capital for the airport project. Nonetheless, Bautista, a former airline executive, believes that the government should put prime focus on developing airports, including the aging Naia.
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