MANILA -- The Department of Transportation (DOTr) announced that it will be negotiating with the San Miguel Holdings Corp. (SMHC) the revised concession agreement for the Bulacan International Airport.
DOTr Undersecretary Ruben Reinoso, in a press conference during the Philippine Economic Briefing Tuesday, said the agency has received the revised concession agreement for the project on Monday.
Reinoso said the new concession agreement is now under review and is scheduled for negotiations next week.
SMHC is the proponent of the Bulacan airport after submitting an unsolicited proposal for the development of another airport in Central Luzon to complement with the Ninoy Aquino International Airport (NAIA).
The unsolicited proposal was approved by the National Economic and Development Authority (NEDA) Board in April, with the proponent submitting the concession agreement in May.
The government, however, raised some concerns and issues on the initial concession agreement in a meeting last September 6.
The revised concession agreement received by the DOTr on Monday was the fruit of discussions earlier this month.
“As soon as we are able to agree terms and concession agreement, the said document then will be submitted to NEDA ICC (Investment Coordination Committee) for confirmation,” Reinoso said.
He added that simultaneously, they are now preparing for the Swiss challenge such that they are preparing, crafting the terms of reference, minimum performance standards and specification, bid parameters, and risk allocation.
“We hope to complete this before the year ends, so hopefully if terms agreed upon proponent will be granted the final approval and awarded the contract by early next year or towards the end of this year,” Reinoso said. (PNA)
