MANILA, Philippines — The proposal to upgrade the Iloilo airport is set to be submitted for approval of the National Economic and Development Authority Investment Coordination Committee (NEDA ICC), following successful negotiations between the government and Prime Asset Ventures Inc. (PAVI) of the Villar group.
Public-Private Partnership (PPP) Center deputy executive director Jeffrey Manalo told reporters that there was a successful negotiation for the project as of Sept. 16.
“So the next step is they will have to submit it to the appropriate approving body,” he said.
With the project estimated to cost over P20 billion, the project will have to be submitted to the NEDA ICC.
Manalo said a project worth over P15 billion must be submitted to the NEDA ICC before it could be endorsed and recommended for final NEDA Board approval.
After the NEDA Board approval, the project will then go through a comparative challenge period of 90 days up to one year.
Under a comparative challenge, the original proponent has the right to match offers submitted by other firms.
“The final timeline will be determined as part of the approved parameters, terms and conditions of the project,” Manalo said.
PAVI secured the original proponent status for the upgrade, as well as operations and maintenance of the Iloilo International Airport.
Through the project, the aim is to improve the management and operational capability of the Civil Aviation Authority of the Philippines of the Iloilo International Airport.
The project will involve the expansion of capacity of the passenger terminal building (PTB).
In addition, it will involve the construction of an apron adjacent to the new PTB extension; renovation or maintenance of the existing terminal building; installation of the required equipment for the passenger services in the new PTB and operation and maintenance.