Lucio Co drops out of NAIA bid

The PBAC will review the financial proposals for compliance with the requirements of the Instructions to Bidders, which specify certain requirements for the financial model and financing plan submitted by the bidders

A consortium of big industry players, led by diversified conglomerate San Miguel Corp., or SMC, has submitted the highest bidder vying to take over the operations and maintenance of the congested Ninoy Aquino International Airport, or NAIA.

The Department of Transportation, or DoTr, on Thursday announced that three of the four bidders complied with the technical requirements for the airport project.

These groups are the SMC-SAP & Company Consortium, Manila International Airport Consortium, or MIAC, and GMR Airports Consortium.

The Asian Airport Consortium led by businessman Lucio Co did not make it to the next round of evaluation.

The Asian Infrastructure And Management Corp., Cosco Capital Inc., Philippine Skylanders Int’l Inc., and Pt Angkasa Pura II make up the Asian Airport Consortium.

Of the three bidders, the SMC-SAC Consortium submitted the highest bid amount, offering to share 82.16 percent of future gross revenues, excluding Passenger Service Charges, with the government.

This is in addition to the fixed upfront fee of P30 billion and annual fee of P2 billion, both payable to the government.

GMR Airports Consortium and MIAC promised to share 33.30 percent and 25.91 percent of future revenues to the government, respectively.

The PBAC will review the financial proposals for compliance with the requirements of the Instructions to Bidders, which specify certain requirements for the financial model and financing plan submitted by the bidders.

Revenue sharing key criteria

Transport Secretary Jaime J. Bautista emphasized that the government will consider revenue sharing as a key factor in selecting the winner.

The SMC-SAP and Company Consortium is composed of diversified conglomerates San Miguel Holdings Corp., Rmm Asian Logistics Inc., Rlw Aviation Development Inc., and Incheon International Airport Corp., the developer of the world-class South Korean air hub.

The MIAC is composed of Gip Em Miac Pte. Ltd., Aboitiz InfraCapital Inc., Ac Infrastructure Holdings Corp., Alliance Global Infracorp Dev’t, Inc., Asia’s Emerging Dragon Corp., Filinvest Dev’t Corp., and JG Summit Infrastructure Holdings Corp. All members are among the country’s leading infrastructure builders.

GMR Consortium, on the other hand, is composed of three companies: India-based GMR Airports International B.V.; Cavitex Holdings Inc., a unit of Metro Pacific Investments Corp.; and House Of Investments Inc. wholly owned by Landev Corp.

In a separate statement, SMC signified its readiness to take on the long-delayed NAIA rehabilitation.

“We aim to elevate NAIA to a world-class standard, ensuring an exceptional experience for all travelers with first-rate services and facilities.”

“Our commitment is to ensure this project brings significant value and advantages to our nation, our government, and our kababayans,” SMC president and CEO Ramon Ang said.

The winning bidder will be announced in mid-February, once the DoTr completes the final financial evaluation of the bids.

Provided that the original timeline set by the DoTr is followed, the turnover of operatorship to the private sector should take place in September.

The DoTr has already assured employees of the Manila International Airport Authority, or MIAA, that their jobs will not be affected by the turnover.