India’s GMR potential front runner for US$3 billion Manila airport plan project
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India's GMR Group is a potential front runner among four private bidders for the US$3 billion redevelopment project of Manila's Ninoy Aquino International Airport (NAIA). The Philippines has shortlisted three out of the four international consortiums for the project, with GMR Group proposing to share up to 33.3% of annual revenues with the Philippine government. The airport tender is being finalized amid growing tensions between Manila and Beijing in the South China Sea, but the Philippines says bilateral ties will not be a factor in the selection. If GMR Group wins the bid, it will be their third airport project in the Philippines. The upgraded airport is expected to serve at least 60 million passengers annually. The winning bidder will be given a concession period of 15 years initially, with a possible extension of another 10 years.
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