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P141B needed to modernize NAIA

(UPDATE) ABOUT P141 billion will be needed to upgrade and modernize the Ninoy Aquino International Airport (NAIA).

The amount was specified in the terms and conditions that the Department of Transportation (DoTr) and the Manila International Airport Authority (MIAA) submitted to the National Economic and Development Authority (NEDA) for the proposed privatization of the country's premier airport, Transportation Undersecretary for Aviation Airports Roberto Lim said during a briefing on Thursday.