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DESPITE some arguments over the law governing the auction for the P170.6-billion privatization deal for the Ninoy Aquino International Airport (Naia), the Department of Transportation (DOTr) pushed through with the opening of the bids on Wednesday.
At least four groups submitted their bids before the 10 a.m. deadline on Wednesday: Manila International Airport Consortium, Asian Airport Consortium, GMR Airports Consortium and SMC-SAP and Co. Consortium.
Transportation Secretary Jaime J. Bautista explained that “today completeness of documentary requirements submitted by the bidders will be reviewed by BAC. After 10 days, the technical qualifications will be reviewed.”
Manila International Airport Consortium is composed of GIP EM MIAC Pte. Ltd, Aboitiz InfraCapital Inc., AC Infrastructure Holdings Inc., Alliance Global Infracorp Development Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings Corp.
Meanwhile, Asian Infrastructure and Management Corp., Cosco Capital Inc., Philippine Skylanders International Inc., and PT Angkasa Pura II make up the Asian Airport Consortium.
GMR Airports Consortium is a partnership among GMR Airports International BV, Cavitex Holdings Inc., and House of Investments Inc.
Lastly, SMC-SAP and Co. Consortium consists of San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corp.
There were eight groups that bought bid documents for the project: GMR Airports International, San Miguel Holdings Corp., Manila International Airport Consortium, Spark 888 Management, Asian Airport Consortium, Cengiz Insaat Sanayi ve Ticaret A.S., and Incheon Airport Corp.
ADB wanted deferment
THE government stuck to its December 27 deadline for the submission of bids despite the Asian Development Bank’s (ADB) recommendation to extend the auction by a month.
Reportedly, some industry stakeholders are questioning the law that will govern the bidding, as the Public-Private Partnership (PPP) Code took effect on December 23, overriding the Build Operate and Transfer (BOT) Law.
The Naia Privatization Project is a Rehabilitate-Operate-Expand-Transfer (ROET) deal led by the DOTr and the Manila International Airport Authority (Miaa).
Under the initial terms of reference for the deal, the winning consortium shall provide an upfront payment of P30 billion to the government as premium and another P2 billion in annuity payments.
It is also required to remit a certain percentage of the revenues to the government. This will be the main bid parameter for the auction—the higher the proposed share of the government in the Naia’s revenues are, the better.
The concession was initially set for 15 years with an option to extend by 10 years as long as the concessionaire is “not in flagrant violation of the concession agreement.”
The Naia PPP seeks to rehabilitate and expand the current three-terminal gateway in Manila. Once completed, its capacity shall be expanded from 35 million passengers per annum (MPPA) to 62 MMPA.
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