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Pinsent Masons MPillay supports the Asian Development Bank in a major tender for the expansion of the airport in the Philippines

The PhP 170.6 billion project will be completed through a public-private partnership managed by the DOTr and the Manila International Airport Authority (MIAA). The tender for the project was published on August 23, 2023 and the winner is expected to be announced early next year.

NAIA is the main airport for international travelers to and from the Philippines. The project is designed to address long-standing issues regarding passenger capacity and aircraft movement.

The Pinsent Masons MPillay team advising on the matter was led by partners James Harris and David Platt and included senior associate Jonathan Fong.

Commenting on the matter, James Harris said: “We are very pleased to support ADB in tendering this important airport improvement and expansion project for the Philippine Government. “This project is vital to the economic development of the Philippines and is one of the largest industrial PPP projects to be launched globally this year.”

Pinsent Masons MPillay has advised on the risk allocation and transaction structuring of the project, project and tender documentation, the proposed concession agreement from the point of view of international best practices and will also support the ADB/DOTr with the competitive bidding process, negotiations and ultimately with financial close. The participation of local legal counsel was provided by PJS Law, Manila. Other advisors assisting the ADB include PwC (financial) and Landrum and Brown (technical).

The firm is a long-time advisor to the ADB and supports it on a number of high-profile projects. In 2021 the firm was appointed to advise it on its Energy transition mechanism which will see the phasing out of coal-fired power plants across Southeast Asia.

The ADB offers its members and partners in Asia Pacific transaction advisory services, loans, technical assistance, grants and equity investments to finance projects focused on social and economic development. The bank has 49 member countries from the Asia Pacific region and another 19 members outside the region.

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