Mes: noviembre 2018

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Bahamas: Plans For Two New Family Island Airports

The government still intends to build two new family island airports by way of public private partnership, Tourism and Aviation Minister Dionisio D’Aguilar said Friday.

Exuma and North Eleuthera are to receive upgraded airports next, the minister said as he explained that those with the highest activity will be prioritised. He said Friday he wants to begin one new facility every six months.

More than eight months ago, Mr D’Aguilar told the House of Assembly of these plans. At the time he told members each project could cost around $35m. The high cost presents a compelling case for the use of PPPs in this instance.

The minister was asked Friday about the state of airports in the country and how officials intended to keep up with better tourist arrivals, which they said have been exceptional this year.

“So as you know there are 28 airports in the family islands. There is a lot of airports,” he said.“The amount of funds to upgrade them all to world class level is beyond our budget. So we are in a systematic way gonna do the busiest airports first.

“In 2011/2012 they did the Marsh Harbour airport. Based on a study that was done the next busiest one is Exuma. The one after that is North Eleuthera. So we are going to focus on those two next.

“Exuma I think we are very close to finishing the design of that. We’re very close to putting that out to bid. Obviously to build these airports will require funds and so the government is exploring public private partnerships.

Going to these private sector companies and saying look we would like to develop this airport are you prepared to partner with us in coming up with the funds and leading the construction?

“Because if you do one airport at a time it will take forever. So my vision is we gotta start Exuma and then six months later start North Eleuthera and that’s going to require a lot of funds in order to do that so we have to look to the private sector to see where they can assist in helping us to achieve our goal to deliver a much better airport product.

“In many instances tourism and tourism infrastructure has outgrown the airport and we need a bigger airport to accommodate the growth.

Source: Tribune 242

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Incheon Int’l Airport to join San Miguel on developing new Manila airport

The Incheon International Airport Corp. (IIAC) will work together with Filipino multinational company San Miguel Corp. on developing the Philippines’ new airport near Manila.

IIAC said Sunday that it has entered into the memorandum of understanding with San Miguel Corp, the Philippines’ largest company to cooperate on developing a new international airport in Bulacan province, about 40 kilometers northwest from Manila.

San Miguel currently is waiting for the Filipino government’s final awarding of the new airport project worth about 17.5 trillion won ($15.5 billion). In April, it gained an approval on its unsolicited proposal of opening a new airport, dubbed New Manila International Airport that it submitted in 2016. Once awarded, San Miguel will be given the rights to build and operate the new Manila airport for 50 years. The company plans to set up the new airport with as many as four parallel runways to serve over 100 million passengers yearly.

The Philippines’ capital Manila already has a main air gateway Manila Ninoy Aquino International Airport but it already has reached its saturation point. Last year, a total of 42 million people traveled through the airport, exceeding its annual service capacity of 31 million.

IIAC said the New Manila International Airport will be constructed on reclaimed land just like the Incheon International Airport itself, allowing it to share its experience on constructing and operating the airport with San Miguel. It plans to work with the Filipino primarily on operating the new airport.

Source: Pulse

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Spain’s Ferrovial, Canada’s PSP eye GVK Airport stake

Canada’s Public Sector Pension Investment Board, or PSP Investments, and Spanish airport operator Ferrovial,
which runs Heathrow of London, among others, are the two final suitors advancing on a large share purchase in GVK Airport Holdings, people directly familiar with the matter said.
GVK owns and operates the country’s second busiest Mumbai International Airport, and will manage the proposed Navi Mumbai International Airport too. Citigroup is said to be advising the transaction, which could conclude with one of the two bidders in the next two months. Financial details of the potential transaction could not be ascertained at this stage.

Earlier this month, GVK Power & Infrastructure sought shareholder nod to sell over 50% stake in the privately held airports holding company for raising up to Rs 8,000 crore. The capital raised will be deployed to pare debt and for developing the Navi Mumbai airport. GVK Airport Holdings has over Rs 8,000-crore debt, while the group’s overall debt hang is well over Rs 20,000 crore.
One of the sources cited earlier said the share sale to one of the bidders would be up to 49%. However, GVK Airport is likely to go ahead with an IPO plan sometime next year, which would see the promoter stake fall below 50%. The company is a fully owned subsidiary of GVK Power & Infrastructure.
PSP and Ferrovial were in the final lap after the latest phase of protracted deal-making in GVK Airport had attracted several bidders, including Australian infrastructure investor AMP Capital, Abu Dhabi Investment Authority and Malaysia Airports, among others.

Source: The Times of India (Business) 

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Philippines: Award of crucial airport projects seen in early ’19

With roughly a month to go before the end of the year, the Department of Transportation (DOTr) acknowledged that the final awarding of key private sector-proposed airport projects in Manila and Bulacan could be completed by early 2019 at the soonest.
Transportation Undersecretary for planning Reuben Reinoso yesterday said the two projects—San Miguel Corp.’s P800-billion international airport in Bulacan province and Naia Consortium’s P102-billion offer to modernize and operate the Ninoy Aquino International Airport—had yet to be cleared by the Investment Coordination Committee of the National Economic and Development Authority.

The two projects form part of the DOTr’s so-called multiairport policy, which aims to address worsening congestion in Naia, the Philippines’ main gateway.
The go-ahead of the Neda-ICC will be followed by the approval of the Neda Board, which is chaired by President Duterte. As unsolicited proposals, the final step is a bidding process known as Swiss Challenge, which requires at least 60 days.
Reinoso said they were still targeting to launch the Swiss Challenge, wherein rival bidders would be allowed to submit offers, before the end of 2018. But he explained that this would depend on when the projects would be approved by the Neda ICC.
Reinoso said the offer of Naia Consortium, a group of seven conglomerates, remained with the Neda-ICC pending the submission of additional documents by the Manila International Airport Authority.
He added that the concession agreement for SMC’s airport offer was being reviewed by the Department of Finance and Office of the Solicitor General. It will then be handed over to the Neda-ICC for “reconfirmation.”
Naia Consortium and SMC hold original proponent status (OPS) for their respective projects. This means they both carry a big advantage during the Swiss Challenge. OPS holders can still win the project because they have the right to match rivals with better bids.
Naia Consortium’s members are Ayala Corp., Aboitiz Equity Ventures, Alliance Global Group Inc., Asia Emerging Dragon, Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. Its technical partner is Changi Airports International.
Through a 15-year concession, Naia Consortium wants to increase capacity in Naia to around 65 million passengers yearly in four years. This is double the existing design capacity of 31 million passengers a year. Naia’s four passenger terminals served 42 million passengers in 2017.
On the other hand, SMC is planning a brand-new airport in Bulakan, Bulacan, that will have as many as six parallel runways and a capacity of over 100 million passengers yearly.

Another key part of the multiairport strategy is Clark International Airport, Pampanga’s gateway that is currently being expanded under the public-private partnership scheme.

Source: Inquirer Net