Gokongwei says Cebu airport contract now 'more attractive'

MANILA, Philippines - The Gokongwei group says the contract for the Mactan-Cebu international airport has become more attractive after the government sweetened the deal. Lance Gokongwei, JG Summit president and chief operating officer, said recent changes to the terms of the deal has improved the commercial viability of the Cebu airport project. "I think certainly that would be helpful to make it more attractive to private investors," he said. Bidding for the airport contract -- the first airport deal under the public-private partnership program -- has been pushed back to November 15 amid investor concerns over its terms. The government agreed to shoulder the property taxes and to extend the concession agreement from 20 to 25 years. Gokongwei's JG Summit said it is working with the Pangilinan group to bid for the airport contract. The group has tapped French airport operator Aeroports de Lyon as its foreign partner. - ANC