Metro Pacific Investments Corp. is likely to abandon plans to bid for the 25-year contract to operate and maintain the Clark International Airport.
MPIC said that while it purchased bid documents for the project, It may not pursue it anymore.
?We find the current draft of the concession agreement extremely challenging, given the identified material risks that were not addressed,? MPIC said.
?The schedule of the bid submission further made participation in the bid very difficult, considering that the final draft of the concession agreement was released only yesterday. For the foregoing reasons, MPIC is unlikely to submit a bid for the project,? it added
Apart from MPIC, other firms that bought bid documents were San Miguel Holdings Corp., Megawide-GMR Consortium, Filinvest Development Corp., AirAsia Group, Prime Assets Venture, Central Luzon Infrastructure Consultancy Inc. Consortium, GVK Airport Developers Ltd. and Groupe ADP.
The winning bidder will be known on Nov. 5.