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April 12, 2024

San Miguel consortium secures funding for historic NAIA upgrade

By Eileen Mencias

The consortium headed by San Miguel Corporation has secured financing for the P170.6 billion rehabilitation project for the Ninoy Aquino International Airport (NAIA).

This public-private partnership (PPP) marks the largest project awarded under the Marcos Jr. administration.

A consortium led by SMC, along with RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corp., will undertake the project.

The financing itself is a collaborative effort, with a group of five to six local banks underwriting the endeavor.