This payment, part of the Public-Private Partnership (PPP) project, will strengthen the government’s non-tax revenue without burdening the public with new taxes, he said in a statement.
Recto highlighted that this upfront remittance is only the beginning of a broader financial benefit.
The 15-year concession, extendable by another 10 years, is expected to generate approximately P900 billion in revenues for the government.
This translates to about P36 billion annually, which will fund critical projects in education, public health, and infrastructure.
The P30-billion remittance was cleared with the Bureau of the Treasury on September 16, 2024, following the official turnover of NAIA operations to NNIC.
The total project cost of P170.6 billion makes this the largest PPP project under President Marcos.
This NAIA rehabilitation project, approved by the board of the National Economic and Development Authority, aims to modernize the airport, addressing congestion and capacity issues.
Once completed, the project will increase NAIA's passenger capacity from 35 million to 62 million annually and improve air traffic capacity from 40 to 48 movements per hour.
The government's partnership with the private sector is expected to drive further modernization and economic growth.
