Incheon International Airport Corporation announced on 16 February that it has secured the development and operation rights for Manila’s Ninoy Aquino International Airport, through a public-private-partnership (PPP) project. 

The development and operation project has a timeline of 25 years until 2049, with an estimated total cost of 4 trillion won (US$30 billion). During this time. Incheon will be responsible for the operation and maintenance of the airport for the next 25 years. 

The consortium “SMC-SAP AND COMPANY CONSORTIUM”, which consists of Incheon International Airport Corporation, local conglomerate San Miguel Holdings Corp., and local financial investment companies RMM Asian Logistics and RLW Aviation Development, was selected after it secured the highest scores in qualification, technology, and price categories, 

Other bidders included GMR Airports International B.V. from India, Global Infrastructure Partners (GIP) from the United States, and PT Angkasa Pura II from Indonesia. 

The successful bid follows Incheon’s exploits in the PPP project at Batam Hang Nadim Airport in Indonesia in 2021. And with this latest achievement, the corporation is establishing itself as a global airport operator, expanding its overseas portfolio beyond the current projects, including the operation and maintenance of Kuwait Airport Terminal 4, Batam Hang Nadim Airport PPP Project, and the Airport Operational Advisory for Solidarity Transport Hubin Poland. 

NAIA handled 48 million passengers and 720,000 tonnes of cargo in 2019, before the pandemic, and Incheon said the plans include terminal expansion and operational optimization, with the goal of increasing the capacity to handle up to 62 million passengers and positioning the airport as a regional mega-hub. 

The airport group plans to facilitate the participation of domestic companies in the design and construction of future projects, supporting international expansion and contributing to the Philippine economy. 

President & CEO Hag Jae Lee of Incheon International Airport Corporation stated, “Winning the bid for the Ninoy Aquino Airport Development and Operation Project consolidates our position as a global airport operator in Southeast Asia, following our success with the Batam Hang Nadim Airport project in 2021. We will expand our overseas business worldwide, based on the operational know-how accumulated at Incheon Airport.”