The proposal to upgrade the Iloilo International Airport is now being readied to be submitted to the National Economic and Development Authority Investment Coordination Committee (NEDA ICC).
According to Public-Private Partnership (PPP) Center deputy executive director Jeffrey Manalo, the negotiation between the government and Prime Asset Ventures Inc. (PAVI) was “successful.”
PAVI is the holding company of the group of business magnate Manuel Villar.
“So the next step is they will have to submit it to the appropriate approving body,” said Manalo.
The P21-billion project needs to be submitted to NEDA ICC first before it could be endorsed and recommended for final NEDA Board approval.
“The project cost is above P15 billion, so it will have to be submitted to ICC before it can be endorsed and recommended for final NEDA approval. Then after that, a minimum 90-day comparative challenge (to one year),” Manalo explained.
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.
The project aims to “improve the management and operational capability of the Iloilo International Airport through an operate-add-transfer agreement.”IMT
