The National Economic and Development Authority (Neda) Board, chaired by President Duterte, has finally approved the unsolicited proposal of San Miguel Corp. to build an airport in Bulacan.
The long-awaited approval, however, was “conditional.” A final examination of the concession agreement needs to be undertaken before the P735.63-billion airport project gets the green light.
Sources from the Neda told the BusinessMirror that a reasonable rate of return along with “other parameters” will need to be examined by the government.
“After [the] approving body sets [a] reasonable rate of return and other government parameters, negotiations between the government sponsor and unsolicited proponent ensue toward Swiss Challenge. Part of that would be finalization of the draft concession agreement,” the sources said.
The Bulacan International Airport project involves the construction, operation and maintenance of the airport with an area of approximately 2,500 hectares in Bulakan, Bulacan.
The project involves airport development, such as a passenger terminal building, with airside and landside facilities and an 8.4-kilometer airport toll road. It will be able to accommodate 100 million passengers per annum by its opening year.
Apart from the airport, the Duterte administration also approved seven other new projects worth P875 billion, as well as cost and loan adjustments for several projects in its sixth Neda Board meeting on Wednesday.
The list of new projects, apart from Bulacan airport, includes the P50.031-billion Subic-Clark Railway Project; P39.2-billion Ambal-Simuay River and Rio Grande de Mindanao River Flood Control Projects; P27.37-billion Pasig-Marikina River and Manggahan Floodway Bridges Construction Project; and P11.37-billion Bridge Construction Acceleration Project for Socioeconomic Development.
The Neda Board also approved the P5.61-billion Clark International Airport Expansion Project-Operations and Maintenance PPP Concession; P4.78-billion Rural Agro-Enterprise Partnership for Inclusive Development and Growth Project; and P1.02-billion Davao Food
Complex Project.
“We are pleased to see more infrastructure projects in the pipeline. As we roll them out, the government shall keep working toward developing the country’s infrastructure to ensure easing of congestion in Metro Manila and spreading growth to the regions,” said Socioeconomic Planning Secretary Ernesto M. Pernia during the sixth Neda Board meeting at the Bangko Sentral ng Pilipinas on April 25.