The launch of the Swiss challenge for the bundled Davao, Bicol, and Siargao airport projects is going before the Investment Coordination Committee (ICC) for approval, the Public-Private Partnership (PPP) Center told BusinessWorld.
The P21.61-billion unsolicited proposal for the airport bundle exceeds the P15-billion threshold beyond which clearance is needed from the ICC, the PPP Center said. The Swiss challenge mechanism allows other interested parties to submit competing proposals after the original unsolicited offer is evaluated.
The bundled projects involve Davao International Airport, Bicol International Airport, and Siargao Airport. Once ICC approval is secured, the PPP Center will proceed with publishing the Swiss challenge, inviting other firms to match or improve the proposal.