Stage 1 — Complete
Deal Structuring & Market Sounding
Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
Origin Country
Philippines
airport deal
Operator // tbc
Private developer Aboitiz InfraCapital (AIC) has submitted an unsolicited proposals under a Swiss Challenge process to Dept. of Transportation (DOTr) for operation and management of TAG, under a PPP/O&M scheme. Upon DOTr endorsement, the deal is subject to National Economic and Development Authority (NEDA), Investment Coordination Committee (ICC) review/approval. The new USD170m airport located on 230-hectare site, which completed/activated in Nov. 2018, replaces Tagbilara Airport. The new facility has been designed for 2m pax/year, more than double current airport traffic. In late Mar. 2019, Aboitiz announced that it has signed daa International (Ireland) as its operating partner to provide expertise in airport expansion, maintenance and operations for the project. A earlier proposal by AIC, bundled with Bacolod-Silay, Laguindingan and Iloilo, was rejected by DOTr. A rival proposal by Udenna/Chealsea, bundled with Davao, was also rejected by DOTr. TAG was among five regional airports put to market just prior the 2016 national election, but was terminated by the new Duterte gov’t. Capital development will be in two stages with Phase 1 (2020-21) including initial enhancements and internal fit-out of existing facilities followed by Phase 2 (2026-27) optimization and reconfiguration based on traffic demand.
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Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
Investor/operator evaluation for the deal/opportunity and/or business case and financial model development to support commercial bid/offer.
Award of deal by government/grantor, or acceptance of offer from private owner of shares, followed by completion of financing conditions and, ultimately, granting of concession and/or transfer of shares.
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