A SAN Miguel Corp. (SMC)-led consortium has submitted a revenue-sharing offer well over competing bids for the P171-billion Ninoy Aquino International Airport (NAIA) rehabilitation, operation and maintenance project.

The Transportation department on Thursday announced that the SMC SAP Company Consortium, composed of SMC's San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc. and South Korea's Incheon International, had proposed to give the government 82.16 percent of revenues from the project.

Two other groups submitted much lower revenue share offers and a third was disqualified for not complying with technical proposal requirements, the department added.

The Manila International Airport Consortium, composed of Aboitiz InfraCapital, Ayala's AC Infrastructure Holdings Corp., Alliance Global-Infracorp, Filinvest and JG Summit Holdings, offered a 25.91-percent revenue share and GMR Airports International B.V., Cavitex Holdings Inc. and House of Investments Inc. of GMR Airports Consortium proposed a 33.3-percent sharing deal.

The Asian Airport Consortium, meanwhile, composed of Asian Infrastructure and Management Corp., Cosco Capital Inc., Philippine Skylanders Inc. and PT Angkasa Pura II, was disqualified for failing to comply with technical proposal requirements.

Transportation Undersecretary Roberto Lim said the three bidders would now move on to the next stage of the auction, which involves a detailed review of their financial proposals.

Timothy John Batan, bidding committee chairman, also said that a bidder had raised questions about rival offers. He did not detail the dispute and said that the panel was looking to resolve it before Wednesday next week when the results of the financial evaluation will be announced.

The government expects to issue the notice of award the following day, February 15. The winning bidder will have until March 6 to submit the post-award requirements and a concession agreement is scheduled to be signed on March 15.

The winning consortium will get a 30-year concession and an option for a 10-year extension. Officials said the turnover of the facility was likely to be made in September.

The NAIA project, among others, involves the improvement of airport facilities to comply with international standards, modernization of all terminals, enhancing capacity to 62 million passengers per year, improving the information and technology infrastructure, and ensuring reliable landside and airside operations.

While a winner has yet to be announced, San Miguel said it was ready to take on the project even as it proceeds with the New Manila International Airport project in Bulacan.

"Our aim is to elevate NAIA to world-class standard, ensuring an exceptional experience for all travelers with first-rate services and facilities. Our commitment is to ensure this project brings significant value and advantages to our nation, our government and our kababayans (countrymen)," San Miguel Chairman and Chief Executive Officer Ramon Ang said in a statement

He noted potential synergies with the Bulacan airport project, and said that San Miguel's vision was "to create an integrated airport network that not only improves the travel experience but also supports sustainable economic growth and elevates the Philippines as a prime hub for tourism, business and investment in the region."