CITY OF MALOLOS, Bulacan (PIA) – The Department of Foreign Affairs (DFA) has recognized the huge Dutch investment in the New Manila International Airport (NMIA) Project in Bulakan, Bulacan, as a concrete testament of a vote of confidence in the sustainability and resiliency of the Philippine economy.
DFA Undersecretary for Bilateral Relations and ASEAN Affairs Ma. Theresa Lazaro said during the forum jointly organized by Dangal ng Bulacan Foundation Inc. and the DFA, that the Netherlands has a long history of sustainable investments in the country.
For instance, she said, the Malampaya Gas Field was developed and operated by the then Royal Dutch Shell with its British counterpart from 2002 to 2022. The Koninklijke Luchtvaart Maatschappij or popularly known as KLM Royal Dutch Airlines remains the only European flag carrier that flies directly to Manila.
Since 2021, the Dutch dredging and heavy-lift company Royal Boskalis Westminster has currently involved in the ongoing massive land development of the NMIA Project in Bulakan, Bulacan.
Kingdom of the Netherlands Ambassador to the Philippines Marielle Geraedts said, that the 1,700 hectares of land being developed is worth EUR 1.5 billion making this project the largest in Boskalis 114 years of history.
The Dutch government through its Atradius Dutch State Business (DSB) has extended an export credit insurance (ECI) to Royal Boskalis Westminster to cover the said EUR 1.5 billion contract for the land development of the NMIA project.
The ambassador also said that the land development is designed according to the highest technical and environmental standards to withstand potential sea level rise in the future, frequent typhoons and strong earthquakes.
NMIA land development is now reaching 80% of the progress rate and expected to be completed by the end of 2024. This will be the site of a world-class terminal, four parallel runways and a modern infrastructure network such as the North Access Link Expressway (NALEX) and the extension of Metro Rail Transit MRT 7 from San Jose Del Monte City to Bulakan town.
In 2020, San Miguel Aerocity Inc., the concessionaire of the P740 billion NMIA Project, secured a 50-year franchise from Congress through the Republic Act 11506, to build and operate the huge airport.
By the year 2070, the concessionaire will transfer the management and ownership to the government under the Public Private Partnership (PPP) Code or the Republic Act 11966.
