Filinvest, JG Summit ink 25-year concession deal to operate Clark airport
MANILA, Philippines — Filinvest Development Corporation and JG Summit Holdings, Inc on Tuesday said they signed a 25-year concession agreement with the government to operate and maintain the expanded Clark International Airport and develop its commercial assets.
In separate disclosures to the stock exchange, the companies described as a “major milestone” the signing of concession agreement between the Bases Conversion and Development Authority (BCDA) and the North Luzon Airport Consortium (NLAC).
The NLAC is composed of Changi Airports Philippines Pte. Ltd., Filinvest Development Corporation, JG Summit Holdings, Inc. and Philippine Airport Ground Support Solutions, Inc.
Changi Airports Philippines is a wholly-owned subsidiary of Changi Airports International Pte. Ltd., operator of Changi Airport in Singapore.
Last month, NLAC won the operations and maintenance contract for the Clark International Airport’s existing passenger terminal and the development of a new modern terminal building targeted for operation by 2021.
The gateway in Pampanga currently handles 390 domestic and 184 international flights every week. This year, the Clark airport eyes 11 domestic and 24 international destinations.
The Clark airport targets to register 4.5 million annual passengers by 2022.
FROM BUSINESSWORLD: Clark airport expects 2.5M passengers by December
— Ian Nicolas Cigaral
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