DOTr, San Miguel to finalize Bulacan Int'l Airport deal
DEVELOPMENT. Ramon Ang's San Miguel Holdings Corporation inches closer to striking a deal for the Bulacan International Airport. File photo by AFP
MANILA, Philippines – The concession agreement between the Department of Transportation (DOTr) and San Miguel Holdings Corporation comes closer to realization, as the National Economic and Development Authority (NEDA) Board approved the project's negotiation report.
In a statement, the NEDA Board said it approved the report on Friday, December 21.
With this development, the DOTr will now proceed with finalizing the deal and convey the NEDA Board approval of the report to San Miguel Holdings.
The proposal will still undergo scrutiny of the Office of the Solicitor General and the Department of Finance before it is subjected to a Swiss challenge.
The Bulacan International Airport project is an unsolicited public-private partnership proposal, which covers the construction, operation, and maintenance of the airport on a 2,500-hectare land in Bulakan, Bulacan.
The project cost is P735.6 billion, which would be fully covered by the company that will be named as the original proponent. (READ: Ramon Ang: SMC can self-finance proposed P700-B Bulacan airport)
Key features of the Bulacan International Airport concession agreement include no government guarantee or any form of subsidy.
"These are substantial features, proving the project is adequately advantageous to the government," Socioeconomic Planning Secretary Ernesto Pernia said. – Rappler.com
