Stakeholder agreement singed for Clark airport concession

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Luzon International Premiere Airport Development Corp. (Lipad), an SPV responsible for improvements works as well as operation and maintenance of Clark International Airport (CIA) in Pampanga, has announced an ownership stake in the project concession. The SPV is planning the inauguration of the new passenger terminal in a short time.

Under the stakeholder agreement, a 42.5% stake in SPV will be owned by Filinvest Development Corp, JG Summit Holdings will hold 33% while Changi Airports Philippines Pte will get a 15% stake and Philippine Airport Ground Support Solutions Inc. will get a 9.5% stake.

The expansion project involves the construction of a new 82,600 m2 Passenger Terminal Building (PTB) of the Clark International Airport (CIA), which will increase the total airport capacity to 12.2 million passengers annually. The scope of the project is to develop, operate and maintain the airport's commercial assets, including general aviation facilities, fixed-base operations and real estate among others. 

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