San Miguel Corp.?s proposed P735 billion New Manila International Airport project in the province of Bulacan is up for Swiss challenge soon.
The Department of Transportation said San Miguel Holdings Corp. submitted a revised concession agreement Monday, which is now under its review.
As soon we are able to agree on the terms and conditions of the concession agreement, the same document will be submitted to the Investment Coordination Committee of the National Economic Development Authority.? said Transport Undersecretary Ruben Reinoso.
?Simultaneously, we are now preparing for the Swiss Challenge , which means we are drafting the terms and reference and minimum performance standards and specifications, the bid parameters and the risk allocations matrix which will form part of the tender documents for the Swiss Challenge and we hope to complete it before the end of the year,? he added.
Reinoso said the government hopes to grant final approval and award the contract yearend or early next year.
San Miguel?s proposal involves the construction of a world-class, major international gateway with four to six parallel runways, modern terminals, a sea port and an industrial zone.
To rise on a 2,500-hectare property in Bulakan, Bulacan, the project will be undertaken over a period of five to seven years.
San Miguel president Ramon S. Ang said the conglomerate has the financial capacity and track record to build the Bulacan airport.
?We believe our years of experience in building and operating major infrastructure projects are a key advantage when it comes to executing on this vital, ambitious project,? Ang said.
?SMC has already undertaken a lot of major projects and have delivered on a number of them so the expertise, know-how and innovativeness are there. We also work with the best experts and contractors, so when the time comes to start construction on the airport, we expect to hit the ground running,? he added.