The Department of Transportation (DOTr) and the Manila International Airport Authority (MIAA) have announced SMC-SAP & Company Consortium as the winning bidder for the Ninoy Aquino International Airport (NAIA) Public-Private Partnership (PPP) Project in the Philippines.

Among the three competing bidders, the consortium led by SMC-SAP & Company presented the highest bid, proposing to allocate 82.16% of forthcoming gross revenues (excluding Passenger Service Charges) to the government. The SMC-SAP & Company Consortium is composed of conglomerates San Miguel Holdings Corp, RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corp (IIAC).

The entire project, valued at PHP170.6 billion (US$3 billion), encompasses all facets of the NAIA, including runways, four terminals, and associated facilities. Anticipated to enhance the overall passenger experience and service quality at NAIA, the PPP project is set to undergo post-award requirements completion by March 2024, following the issuance of the Notice of Award on February 16, 2024. Furthermore, the signing of the concession agreement is expected in March 2024.