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Wednesday, May 14, 2003
Gov't sets refund for Terminal 3 at $360M
By Benjamin B. Pulta
MANILA -- State lawyers said Tuesday any reimbursement to investors for the putting up of Terminal 3 at the Ninoy Aquino International Airport (NAIA) would hover near the project's original cost of US$360 million.
The refund will also be subject to the scrutiny of state auditors.
Speaking to reporters, Justice Undersecretary Manuel AJ Teehankee, who heads the Office of the Government Corporate Counsel (OGCC), said: "The original project cost was $360 million American dollars. But, of course, we will see what other expenses were incurred."
"What is important is that the interest of the people is protected and so it will be up to the Commission on Audit," he added.
Varying reports on the cost of the terminal has pegged it at US$500 million at one time. The facility is more than a kilometer long and expected to handle 13 million passengers per year and 28 airplanes at one time.
The figures Teehankee quoted come at the heels of information uncovered by reporters that at least three Arroyo presidential cronies are interested buying and operating the new airport terminal.
Officials of Fraport, the German investors in the Philippine International Air Terminals Co. Inc. (Piatco) who later pulled out of the consortium, identified them as Enrique Razon of the International Container Terminal Services Inc.; George Go, shareholder and former chairman of Equitable PCI Bank; and Lucio Tan of Philippine Airlines, who is reportedly using his son-in-law Joseph Chua's company, MacroAsia, in his bid for the terminal.
Associate Justice Artemio Panganiban suggested in a separate opinion on the Supreme Court ruling nullifying the Piatco contracts suggested that both Piatco and Lucio Tan's firm be disqualified in any new deals to run the airport.
(May 14, 2003 issue)
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