San Miguel Corp. (SMC) is investing between P3 billion and P5 billion to construct a new NAIA Expressway off-ramp leading to the Ninoy Aquino International Airport (NAIA) Terminal 3 to ease traffic congestion in the area.
“I think [the project is estimated to cost] P3 billion to P5 billion. We obtained a permit from Pasay LGU [local government unit] and TRB [Toll Regulatory Board [TRB],” SMC president and chief executive Ramon Ang told reporters in a briefing.
Ang said the construction of the new off-ramp already started and was expected to be completed within the next 12 months.
He also said the New NAIA Infra Corp. is ready to take over the operations and maintenance (O&M) of the country’s main international gateway by Sept. 14, 2024.
“You will see a lot of improvements in November,” Ang said.
NNIC is composed of San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc. and Incheon International Airport Corp.
NNIC, formerly SMC SAP & Co. Consortium, signed a P170.6-billion contract in March 2024 to operate, maintain and upgrade NAIA for 15 years, extendible for another 10 years.
The Department of Transportation (DOTr) earlier said the NNIC would invest about P88 billion in NAIA in the first six years of the concession period.
Besides convenience to passengers, the government expects to generate P900 billion in revenues in the course of its entire 25-year concession, inclusive of the P30-billion upfront payment, P2-billion annual payment and 82-percent government revenue share.
The NAIA project involves capital investment to improve the airport’s facilities to comply with the International Civil Aviation Organization (ICAO) and other internationally-accepted standards.
The concessionaire will be responsible for both landside and airside operations of the NAIA.
It will be required to undertake works to enhance the compliance, safety and security of the airport, optimize and boost airport capacity to cater to the increasing air traffic, in accordance with objective parameters to be provided in detail in the concession agreement.
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