Another black eye
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Forget about foreign investments and hopes that big names in international business will bite into Noynoy’s private-public partnership (PPP) scheme.
The recent court decision awarding what appears to be a token payment for the builder of the new airport terminal or Terminal 3 after the government expropriated it, is guaranteed to drive away investors.
The court ruling was obviously tilted in favor of Noynoy who has been clamoring for “just compensation” but which for him, meant taking a huge discount out of the $400 million or so being asked by the Philippine International Air Terminal Corp. (Piatco) consortium. Its foreign partner, the German airport operator Fraport AG, alone is asking $425 million plus interest and damages from the government takeover..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110527com1.html
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