New Manila International Airport phase 1

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The project involves the first phase of the development of the New Manila International Airport (NMIA) in Bulacan, the Philippines. The airport will be developed in three phases, with the first one includes the development and construction of a passenger terminals, airside facilities, including aviation-related equipment and support facilities required in the operation to cater a minimum annual capacity of 35 million annual passengers. San Miguel Corporation (SMC) is sponsor of the project under a build-operate-transfer concession for 50 years. The company first submitted an unsolicited proposal on 29 September, 2016 and signed the concession agreement with the Department of Transportation (DOTr) on 18 September, 2019. The $2.17 billion debt package for Phase 1 was provided by Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, KfW, HSBC, MUFG Bank, Australia and New Zealand Banking Group and ING Group. The Dutch export credit agency Atradius DSB issued an EUR1.5 billion ($1.59 billion) export credit insurance covering the land development of the project. The insurance was extended to Dutch dredging and heavylift company Royal Boskalis Westminster N.V., which was contracted for the land development works. The insurance represents financial coverage against the risk of nonpayment by a foreign buyer on products and services. Financial close was achieved on 30 March, 2022. Realfin https://www.sanmiguel.com.ph/page/san-miguel-aerocity-inc https://www.rappler.com/business/photos-san-miguel-planned-airport-complex-bulacan/ https://www.sanmiguel.com.ph/news/this-is-what-smcs-sustainable-airport-city-in-bulacan-could-look-like https://ppp.gov.ph/wp-content/uploads/2021/12/PPPC_Awarded-PPP-Projects-2021Oct.pdf https://atradiusdutchstatebusiness.nl/en/news/netherlands-insures-airport-in-the-philippines.html https://www.sanmiguel.com.ph/storage/files/reports/409686-02-V0-C_ESIA_for_NMIA-NTS_20220412-Clean.pdf