The announcement of Ramon Ang's San Miguel Corporation (SMC) winning the Php170.6-billion deal to rehabilitate the Ninoy Aquino International Airport (NAIA) did not sit well with a lot of people. Privatization it seems is a traumatic word for many Filipinos.
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Transportation Secretary Jaime Bautista says BDO chairperson Teresita Tan Sy-Coson's generous guarantee has given his department comfort that the winning bidder will not lack the needed wherewithal to pursue the project
The bidder may have owned or have been the concessionaire for the airport for less than 10 years within the eligible period, as long as at least P10 billion