18 August 2017

Far East


Terminal work set to resume
August 2007 12

The Philippines is to resume work on an unfinished new terminal at Ninoy Aquino International Airport (NAIA), following the World Bank dropping a case filed by German airport operator Fraport against the Manila government over the failed project.

Fraport started building the new terminal under a joint venture - Philippine International Airport Terminals Corporation (Piatco) - but Manila cancelled the contract in 2002 in a row over amendments to the agreement.
Fraport took the case to the World Bank in 2003 seeking $590 million in damages, but last month the institution threw out the case, saying it had no jurisdiction on the project.
Manila is now negotiating with the Japanese main contractor Takenada Corp – who is owed money by Fraport – to resume work and complete the terminal.
The current terminal was built in the 1970s and can handle 19 planes at a time and 7.5 million passengers, while the new terminal is designed to handle 28 planes at a time and 13 million passengers a year.




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