Philippine consortium drops $2b airport project
A consortium of six of the Philippines’ biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country’s main airport, as the impacts of the coronavirus hit the viability of the $2b project. Modernising the ageing and congested Manila airport was among the largest projects of President Rodrigo Duterte’s $180b “build, build, build” planned infrastructure overhaul, his signature economic policy. The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. “Unfortunately, the government indicated that it is not willing to accept most of the consortium’s proposed options and the consortium can only move forward with the NAIA project under the options it has proposed,” the group said.<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2020-07-08/general/philippine-consortium-drops-2b-airport-project
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Philippine consortium drops $2b airport project
A consortium of six of the Philippines’ biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country’s main airport, as the impacts of the coronavirus hit the viability of the $2b project. Modernising the ageing and congested Manila airport was among the largest projects of President Rodrigo Duterte’s $180b “build, build, build” planned infrastructure overhaul, his signature economic policy. The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. “Unfortunately, the government indicated that it is not willing to accept most of the consortium’s proposed options and the consortium can only move forward with the NAIA project under the options it has proposed,” the group said.<br/>
