'The Deal of the Century'

San Miguel Corp. chair and CEO Ramon S. Ang (RSA) vows to make the New Ninoy Aquino International Airport (New NAIA) one of the best, if not the best, in Asia. By 2025.

- TONY LOPEZ

Asia is where the world's best airports are.

On Sept. 14, 2024, the diversified beer, food, power and infrastructure conglomerate and the Philippines' biggest company took over management and operation of NAIA from the government.

Operating NAIA for the next 15 years, with a 10-year renewal, SMC guarantees to pay the government P911.11 billion. Plus spend P170 billion in capital expenditures—a total of P1,081.1 billion or P1.081 trillion.

The P1.08 trillion makes SMC's NAIA the "Deal of the Century."

The NAIA privatization in March 2024 is the fastest ever privatization in Philippine history. It is also the largest in value. In terms of economic impact and in making life comfortable for the 50 million Filipinos who travel by air, New NAIA is the most profound, an unprecedented game changer.

Additionally, RSA has committed to spend, without cost to the government, P735 billion to build the New Manila International Airport (NMIA), in Bulakan town, Bulacan, ten minutes north of Manila, to service up to 100 million passengers a year.

Under a 25-year contract, SMC will also invest P8 billion to expand the Boracay airport in Caticlan to service seven million passengers a year.

By spending P1.08 trillion on NAIA, P735 billion for NMIA in Bulacan and P8 billion for Boracay's airport, RSA is indisputably the Philippines' biggest airport investor. He is also the biggest investor in the country, foreign or domestic, bar none, with his total airport investments alone of P1.82 trillion. SMC is already the Philippines' biggest private infrastructure company.