The consortium led by San Miguel wins the contract to rehabilitate the country’s main international gateway, the Ninoy Aquino International Airport or NAIA.
Full story: https://www.rappler.com/business/san-miguel-led-group-will-operate-ninoy-aquino-international-airport/
Full story: https://www.rappler.com/business/san-miguel-led-group-will-operate-ninoy-aquino-international-airport/
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00:00 The consortium led by San Miguel wins the contract to rehabilitate the country's main international gateway, the Ninoy Aquino International Airport, or NIIA
00:09 Under the terms of the deal, San Miguel's group, SMC-SAP, and the company consortium will serve as the operator of NIIA for the next 15 years, with a possible 10-year extension
00:20 It is required to rehabilitate, operate, optimize, and maintain the airport, which covers improvements to its runways, port terminals, and other facilities
00:29 The consortium will also be sharing 82.16% of its gross revenue to the government, on top of an upfront payment of Php 30 billion and a fixed annual payment of Php 2 billion
00:41 But critics ask, will San Miguel be able to operate NIIA alongside its Bulacan Airport profitably, especially with the generous revenue-sharing terms it offered?
00:51 In 2020, Ramon Ang's conglomerate bagged the franchise for the new Manila International Airport in Bulacan
00:57 (chime)