New World Class Airport Terminal in Clark breaks ground First Hybrid Project under Duterte Administration’s Build Build Build done in record time
Posted: December 20, 2017 | Category: Investment And Projects
The Clark International Airport (CRK) new terminal building is the first of the Duterte administration's hybrid infrastructure projects under the Build Build Build program. The hybrid model means that the government will build the infrastructure using its own funds and then the Operations and Maintenance will be bid out to the private sector. The new terminal will accommodate an additional 8 million passengers per annum.
This hybrid project is considered the fastest public-private partnership/build-operate-transfer (BOT) law procurement process to be implemented by the national government since its approval by the National Economic and Development Authority (NEDA) board in June 2017. The project broke ground in only six months after it was approved by the NEDA board.
Megawide-GMR won the bid to build the terminal, after going through a very stringent and transparent bidding process which was monitored by the International Finance Corporation of the World Bank—besting four other bidders for the design, engineering and construction of the new CRK terminal building.
Last December 14, Megawide-GMR submitted the lowest financial proposal for the airport expansion project at Php9.36 billion.
The Clark International Airport is envisioned to be Asia’s next premier gateway, and is expected to help decongest the Ninoy Aquino International Airport. It is one of the high-impact projects under the Build Build Build Infrastructure Program, and complements Clark which is currently being developed as the next investment center in Asia.