Recto: NAIA on its way to be one of the world’s best airports, passengers to receive VIP treatment with the signing of the PPP Concession Agreement

Finance Secretary Ralph G. Recto expressed confidence that the Ninoy Aquino International Airport (NAIA) is on its way to becoming one of the world’s best airports where all passengers will receive full VIP treatment following the signing of the NAIA public-private partnership (PPP) Concession Agreement on March 18, 2024.

“This project will ensure that only world-class service will be delivered to our people and international visitors, setting NAIA’s departure from its notorious reputation as one of the world’s worst airports to one of the best,” he said.

“Our people must receive full VIP airport treatment—no hassles, no long lines, and definitely no bed bugs and rats, just excellent service. After all, the Filipino people deserve nothing but the best,” Secretary Recto said.

With an estimated project cost of ​​PHP 170.6 billion, the solicited proposal to rehabilitate NAIA aims to address the longstanding challenges of undercapacity, congestion, and underinvestment in the country’s main gateway.

The Finance Chief underscored that the NAIA PPP deal is a crowning achievement of the Marcos, Jr. administration, having achieved numerous unprecedented feats through a strong partnership between the government and the private sector.

The solicited PPP project for NAIA was evaluated within a record-breaking six weeks and was approved by the NEDA Board, chaired by President Marcos, Jr., on July 19, 2023.

“The NAIA PPP project sets the benchmark for efficiency for the government’s pipeline projects, being the fastest-approved PPP proposal in Philippine history,” Secretary Recto said.

“If we act with the same dispatch on all public projects, I am confident that we can sustain the momentum of growth necessary to deliver an inclusive economy for our people,” he added.

Secretary Recto said the groundbreaking deal also sets a precedent for future PPP initiatives, guaranteeing the greatest economic returns for all stakeholders.

On February 16, 2024, the MIAA board awarded the contract for the project to the SMC-SAC Consortium, which submitted the highest bid amount and is sharing 82.16% of future gross revenues with the government––passenger service charges not included.

The Consortium