VILLAR-LED Prime Asset Ventures, Inc.’s (PAVI) unsolicited proposal for the operations and maintenance of the Iloilo International Airport has successfully completed negotiations, according to the Public-Private Partnership (PPP) Center.
“There’s a successful negotiation as of Sept. 16, 2024. The next step is they will have to submit it to the appropriate approving body. The implementing agencies are DoTr (Department of Transportation) and CAAP (Civil Aviation Authority of the Philippines),” PPP Center Deputy Executive Director Jeffrey I. Manalo told reporters on the sidelines of a press briefing last week.
The project must be submitted to the ICC (NEDA Investment Coordination Committee) before it can be endorsed and recommended for NEDA Board’s final approval, Mr. Manalo said, adding that the comparative challenge will begin once the final NEDA approval is secured.
“The project cost is above P15 billion, so it will have to be submitted to the ICC before it can be endorsed and recommended for final NEDA approval. Then after that, a minimum 90-day comparative challenge (to one year),” he said.
PAVI holds the original proponent status for the P21.16 billion rehabilitation, expansion, operation, and maintenance of the Iloilo International Airport.
The project aims to improve the management and operational capability of the Iloilo International Airport through an operate-add-transfer agreement, according to information from the PPP Center.
PAVI has also submitted an unsolicited proposal and is the original proponent of the P10.24-billion Puerto Princesa International Airport.
The Transportation department expects to privatize the Iloilo and Puerto Princesa airports by next year. — Ashley Erika O. Jose