Issues raised vs GMR-Megawide’s NAIA proposal

THE proposed rehabilitation of the Ninoy Aquino International Airport (NAIA) has hit another snag, as the government asked the joint venture of Megawide Construction Corp. and GMR Infrastructure Ltd. to comply with some requirements under the Build- Operate-Transfer (BOT) law.

A Transportation department official said the National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee (ICC) wanted the GMR-Megawide tandem to clarify issues “on financial capacity and the joint and solidary liability agreement of the consortium,” before negotiations can continue.

“There was a deliberation (on Wednesday) and the ICC-Technical Board noted a number of pending compliance with certain requirements of the BOT law, so we have conveyed that to the proponent and we asked them to comply,” Transportation Undersecretary for Planning & Project Development Ruben S. Reinoso said in an online briefing.

Megawide Chairman and Chief Executive Officer Edgar B. Saavedra was asked to comment but no reply has been made as of press time.

Elenita M. Fernando, senior assistant general manager of the Manila International Airport Authority (MIAA), said in the same briefing they will meet again with the proponent by next week to discuss the outstanding issues raised by the NEDA-ICC.

On July 15, the GMR-Megawide tandem received original proponent status (OPS) for the NAIA upgrade, after the government revoked the OPS granted to the so-called super consortium of the country’s top conglomerates.

The consortium — originally 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. — had failed to get the government’s approval to revise the project terms and conditions to reflect the impact of the coronavirus pandemic on the aviation and travel industry.