JICA: New airport to cost P436 billion

ABS-CBNnews.com

Posted at 08/04/2014 6:45 PM | Updated as of 08/05/2014 9:08 AM

MANILA, Philippines – The Japan International Cooperation Agency (JICA) said the Philippines needs to raise an estimated P436 billion in funds to build a new international airport in Cavite to replace the Ninoy Aquino International Airport (NAIA).
In its study, JICA said the total construction cost and navigational equipment for the new airport, which includes civil, building, and utility works, may reach P385 billion while engineering, management, and miscellaneous costs may reach an additional P51 billion.
JICA initially said at least P359.35 billion is needed to put up another runway and passenger terminal for the long term while another P76.57 billion is needed over the medium term to add three more runways, expand existing terminals.
JICA earlier said that Sangley Point, a former US naval base in Cavite, is the most favorable location for a new airport because of its accessibility and catchment area.

The cost of reclaiming land in Sangley Point will only cost the government P120 billion, compared to another option in Laguna de Bay, which may cost P240 billion for reclamation.
A new NAIA is projected to have an annual capacity of 130 million passengers and four runways that can handle 700,000 aircraft landings and take-offs per year.

The new international airport is being eyed to replace the congested NAIA in 15 to 20 years.

A JICA study also showed that as of 2012, passenger demand at the NAIA catchment area stood at 32 million, but it is expected to rise to 38 million in 2015.

By 2025, it is projected to reach 60 million.

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