Turkish Conglomerate Limak Holding Enters Bid for NAIA Rehabilitation Project

MANILA – The Department of Transportation (DOTr) revealed that Limak Holding A.S., a Turkish firm, has expressed interest in bidding for the rehabilitation project of the Ninoy Aquino International Airport (NAIA).

According to Philippines News Agency, speaking at a forum of the Economic Journalists Association of the Philippines (EJAP) in Intramuros, the department has seen an increase in potential bidders for the PHP 170.6-billion airport project, with eight contenders now in the race. Among these is Limak Holding A.S., a diversified conglomerate with business interests ranging from construction to tourism, which has joined another Turkish company, Cengiz Insaat Sanayi ve Ticaret A.S., in obtaining the bidding documents. Bautista noted that the mix of potential bidders includes six foreign entities and two local firms, one of which has foreign ties. The DOTr is currently engaging in individual meetings with these bidders, aiming to clarify any queries ahead of the December 27 proposal submission deadline. The project is expected to be awarded in the first quarter of 2024, with financial closing in the following quarter. Bautista emphasized the significance of the financial close where the winning bidder is required to pay a PHP 30 billion upfront fee as specified in the Terms of Reference.