The government is set to launch next month the bid process for San Miguel Corp.’s P735-billion New Manila International Airport in Bulacan.
“Hopefully, within the next two weeks we will publish the bid documents,” Transportation Undersecretary for aviation Manuel Antonio Tamayo said.
Tamayo said the terms of reference for the Swiss Challenge would be published by April.
Swiss Challenge is a form of procurement, usually required in an unsolicited project, where other parties are given an opportunity to challenge the bid of the proponent.
San Miguel president Ramon Ang described the project as “a game changer” that would bring more foreign tourists to the Philippines.
The New Manila Airport Project will be built over a period of five to seven years to full completion.
The project, which was approved by the National Economic and Development Authority chaired by President Rodrigo Duterte, involves the construction of a world-class, major international gateway with four to six parallel runways, modern terminals, a seaport and an industrial zone.
It is located 27 kilometers from Ninoy Aquino International Airport, or 45 minutes from any point in Metro Manila via multiple expressways.
The new airport is expected to create one million jobs during the construction phase, according to Ang.
San Miguel proposed to build the massive airport complex on a 2,500-hectare property in Bulakan, Bulacan.
San Miguel said earlier it tapped Standard Chartered Bank and Sumitomo Mitsui Banking Corp. as co-financial advisors for the planned project.
Ang said SMC, the parent company, was fully backing SMHC for the airport project. Ang said he agreed with the Department of Finance’s position that both companies―SMC and SMHC―should sign a joint liability agreement.