Source: The Philippine Star, 24 January 2012
By Iris C. Gonzales
MANILA, Philippines – The Gokongwei Group’s JG Summit Holdings Inc. said it is interested in four airport projects the government plans to bid out under its Public Private Partnership (PPP) program.
In a chance interview with reporters, JG Summit president and chief operating officer Lance Gokongwei said the company is set to look into the terms of reference for the four airport projects up for bidding under the Aquino administration’s flagship infrastructure program.
These are the P4.6-billion Puerto Princesa Airport; the P8.7-billion Laguindingan Airport development in Cagayan de Oro; the P6.6-billion New Legaspi Airport development and the P2.5-billion Mactan-Cebu International Airport terminal building expansion.
“We have to look at the terms of reference. We have to consider the bid terms. We haven’t done that,” Gokongwei said.
He said even Terminal 3 of the Ninoy Aquino International Airport (NAIA) would be considered if the government puts this on the auction block.
“We will consider that, too,” Gokongwei said.
Cebu Pacific, the conglomerate’s airline unit, operates at NAIA Terminal 3.
The government earlier announced plans to privatize the operation and maintenance of the NAIA Terminal 3 and the Diosdado Macapagal International Airport in Clark.Other airport-related ventures include the P9.9-billion New Zamboanga Airport development; the P6.9-billion Panglao Airport; P5.5-billion Laoag International Airport upgrading; P4.7-billion Alaminos Airport development and the P3-billion City Air Terminal Development for Clark International Airport.
Gokongwei said they expect to receive P8 billion in recurring income from their core operating businesses and investments by 2012.
He said the holding firm would continue to post strong growth and cash-generating abilities.
JG Summit, he said, is expected to receive cash dividends amounting to $58 million from Universal Robina Corp. (URC), its food and beverage unit; $28 million from budget carrier Cebu Pacific; $21 million from property subsidiary Robinsons Land Corp. and $12 million from international investment arm United Industrial Corp. Ltd.
