Monday, 2 August 2010

Aquino targets NAIA 3 full operations in December

abs-cbnNEWS.com
http://www.abs-cbnnews.com/business/08/01/10/aquino-targets-naia-3-full-operations-december

MANILA, Philippines - President Benigno Aquino III said the government is expecting to fully operate the Ninoy Aquino International Airport (NAIA) 3 in December.

This developed after the International Criminal Court (ICC) in Singapore on Saturday, favored the Philippine government in the arbitration case against the Philippine International Air Terminals Co. (Piatco) in connection with the NAIA 3 contract.

The ICC decision is similar to the decision of the arbitration in Washington which dismissed the complaint of Fraport AG, a German investor in NAIA 3, against the government.

"It is with very intense delight that I was informed that we won by the dismissal of the complaint in Singapore," said Aquino in a press conference on Sunday, adding it is significant that the government won in both cases.

The favorable ruling meant the Philippine government will not be obligated to pay $1.1 billion to the complainants.

Aquino said however, that he wants to know the details of the ruling.

"As you know the devil is in the details. I am awaiting for briefings of the details to move foreward and have NAIA 3 used to its maximum capacity."

"We are targeting (full operations) in time for the Christmas holidays," said Aquino.

On Saturday, Presidential spokesperson Edwin Lacierda said that with the case dealt with finality, the Department of Transportation and Communications will thresh out details on how the operations of the NAIA 3 will be done.

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