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CIAC reviews 45 locators, eyes partners

By EMMIE V. ABADILLA

Clark International Airport Corporation (CIAC) is reviewing the accounts of 45 locators within the Clark Civil Aviation Complex (CCAC) and taking new partners for the over 2,000 hectares of undeveloped areas in its property.

CIAC wants to ensure its current locators, which are engaged in manufacturing, mixed-use commercial hub, business process outsourcing, renewable energy, cargo, and aviation-related industries, are up-to-date with their lease payments.

“We’ll start identifying non-performing or delinquent locators, especially those with unsettled accounts,” confirmed CIAC President and CEO Aaron Aquino.

“We are also forging new and strategic partnerships to develop the remaining prime government land at the aviation complex,” he added.

The CIAC financial team is working on the application of a deferred lease payment scheme for locators covering the period of the enhanced community quarantine, subject to the approval of the CIAC Board.

“If the locators’ financial obligations in their lease contracts are updated, the government is assured of revenues that can be used to spur economic growth,” Aquino stressed.

Furthermore, the government is tapping the underutilized 2,367-hectare civil aviation complex in this Freeport which houses the privately-run Clark International Airport (CRK).

The landside business development projects will readily create revenue sources for the national government, specifically on- and off-airport commercial development.

This includes hotels, business offices and convention centers, parking bays, shopping malls, cultural and entertainment attractions, factories, research and development facilities, and air cargo, logistics and service industries.


Source: Manila Bulletin (https://business.mb.com.ph/2020/06/24/ciac-reviews-45-locators-eyes-partners/)

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