Terminal 3 up for grabs
Posted by akosistella on March 29, 2010
THE Arroyo administration is thinking of selling the incomplete Terminal III for $600 million. At the same time, Fraport, the German partner of Philippine International Air Transport Corp. (Piatco) is also reportedly selling its stake for a rumored $150 million.
At least one Chinese-Filipino businessman has expressed interest to buy Fraport’s stake but a source said a large universal bank declined to grant him a loan to help finance the purchase.
Terminal III of the Ninoy Aquino International Airport was started during the Ramos administration after the Asian Emerging Dragon Corp. (AEDC) composed of five taipans including Lucio Tan made an unsolicited bid for around $300 or so million.
Gibo to Palace: Stop ‘fire sale’ of P30B billion state assets
MANILA, Philippines – Administration presidential candidate Gilbert Teodoro urged the Arroyo administration yesterday to halt what he called was the “fire sale” of some P30 billion worth of state assets to help stem the widening deficit.
Teodoro, standard-bearer of the Lakas-Kampi-CMD, was referring to the proposed sale of the Philippine National Oil Corp. (PNOC), Food Terminal, Inc. (FTI) and Fujimi property, from which the government expects to generate P30 billion in revenues.
He stressed the sale of the three government properties should be left at the discretion of the next elected administration to avoid controversy.
Click Philippine Star.