Int’l business community watching NAIA 3 — exec

The international business community is "closely watching" the Ninoy Aquino International Airport Passenger Terminal 3 (NAIA-IPT 3) project, an official of FRAport AG Frankfurt Airport Services Worldwide, a German firm involved with the project, said yesterday.

"All eyes are on this very important undertaking," said Bernd Struck, Fraport executive vice president. He pointed out that the project’s success is "crucial to boosting investor confidence in the Philippines."

The outcome of this project has the potential to make or break investor confidence in the Philippines," said Struck. "International financiers are watching this project closely as top global creditors are involved in the project," he added.

The NAIA-IPT 3 will have a capacity of 13 million passengers annually, thrice the capacity of the current NAIA. Struck expressed confidence that the completion of the airport would boost the Philippine economy, as it would most likely bring in more tourists and attract investments into the country once operational.

Struck expressed dismay over false reports alleging that his company owned 70 percent of PIATCO-the company that won the 25-year contract to build the world-class air facility – in violation of the Philippine Constitution. "Its sad that the name of our company is being dragged by parties out to derail the project," he said. "Such actions certainly serve as disincentive to investors," Struck said.

He clarified that Fraport has only 30-percent equity in PIATCO. Struck stressed that Fraport has been in the business for 75 years, building a solid reputation in the global business community for its involvement in operating world-class airports.

"We are governed by strict laws in Germany to adhere to the laws of any country where we are doing business," he stressed.

The PIATCO chairman said that despite efforts to stymie the project, it is set to begin operations in November as scheduled. The NAIA-IPT 3 will sit on a 65-hectare lot in Parañaque and boasts of safety and security features at par with the world’s best airports.

Fraport maintained earlier that it will continue to participate in the management and operation of the airport once completed to fulfill its role to transfer expertise and technical know how to make sure NAIA-IPT 3 meets international standards.