German Builders of Manila airport terminal compensated after 14 years

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After 14 Years, German Builders of NAIA-3 Receives Compensation – www.philippineslifestyle.com

After a 14-year dispute over the construction of NAIA Terminal 3, the German company Fraport has received $270 million dollars in compensation – of which $45 million will go to the German government.

The terminal was originally scheduled to open in late 2002, but due to legal disputes between the Philippine government and the building consortium, only part of the terminal was opened.

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A legal rift ensued until 2015 when the Philippine Supreme Court ordered the government to pay out the sum of $510.3 million (USD) to the airport project.

The ordered sum was paid to Philippine International Airport Terminals Co. Inc. which is partially held by Fraport under the official government ownership law.

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