The modernization of the Ninoy Aquino International Airport (NAIA) Public-Private Partnership (PPP) is expected to generate P900 billion in earnings for the government.

“With Friday’s announcement of the winning concessionaire for the NAIA modernization, the government would secure from the SMC-SAP Co. Consortium a guarantee of P30 billion as upfront payment and P2 billion annual payments, according to the Department of Transportation (DOTr),” DOTr said.

The transport agency noted that the Manila International Airport Authority (MIAA) remitted P23.3 billion from 2010 to 2023 or P1.78 billion annually.

A consortium led by San Miguel Corporation (SMC) earlier bagged a 15-year contract to rehabilitate and run the NAIA.

According to DOTr, the last major expansion of NAIA was 16 years ago in 2008 when its Terminal 3 was put into operation.