CLARK International Airport Corp. (CIAC) is evaluating a proposal from a Kuwaiti firm to build a $1.2-billion airport at the Clark Freeport in Pampanga, CIAC president and chief executive officer Victor Luciano said.
Al-Mal Investment Co, owned by MA Kharafi and Sons, one of Kuwait’s largest conglomerates, submitted a proposal on Dec 24 to build a new airport north of Manila, which is hoped to jump start the development of the former United States military base into the country’s premier international gateway.
The proposal will still undergo a competitive challenge, where other parties would be given a chance to come up with a better deal for the government.
“Al-Mal has committed to develop all civil components of the Diosdado Macapagal International Airport Terminals 1, 2, and 3 as well as the adjacent land of 1,500 hectares following the original plan at a total investment value of $1.2 billion,” CIAC chairman Nestor Mangio said in a statement.
Mangio said Al-Mal offered to develop Terminal 2 at a cost of $100 million under Phase 1 of the project.
Terminal 2 will have a total floor area of 35,000 square meters and will accommodate seven million passengers annually.
