The provincial government of Cavite asked qualified companies to submit proposals for a joint venture partnership to undertake the development of the Sangley Point International Airport.
Cavite Governor Jonvic Remulla urged interested parties to submit the proposals until Nov. 25, 2019.
“Modernizing air transport in the country with a world-class airport project is a huge undertaking. It requires innovative capacities and reliable resources that could be more efficiently expedited with joint public and private sector expertise,” he said.
The provincial government of Cavite is the lead proponent and implementing agency of the project which supports the Transportation Department’s multi-airport strategy to decongest Ninoy Aquino International Airport, the country’s main international gateway, whose passenger volume is already 40 percent above its design capacity of 31 million passengers yearly.
The 1,500-hectare master-planned international airport hub will be fitted with four runways, airside and landside facilities, with an annual capacity of much as 130 million passengers.
The airport is expected to be at par with Singapore’s Changi International Airport, Hong Kong International Airport and South Korea’s Incheon International Airport, as it is positioned to be the next biggest development in air transport innovation in the country.
Remulla said the project would be pursued under the provincial government’s Public-Private Partnership scheme. He said that as such, it would no longer require the approval of the National Economic and Development Authority for implementation.
“PPP has proven vital in improving the quality of infrastructure projects for the benefit of Filipinos, and we expect nothing less for Sangley Point International Airport here in Cavite. We look forward to the Joint Venture because it will open new avenues not only in terms of stimulating efficiency for national economic growth, but also for the urbanization of Cavite,” he said.
The selected JV partner will provide the necessary equity investment and credit enhancements and subject to a further competitive process or price test, perform engineering, procurement and construction services for the land and airport development components of the project.
In addition to the legal, technical and financial qualifications set by the provincial government, the selected JV partner must also pass the credit standards of project lenders.
The request for proposals will require project feasibility study, instructions to candidate JV partners, and the draft joint venture and development agreement.
These documents are now available at the Office of the Provincial Governor, Cavite Provincial Capitol, Trece Martires City until Nov. 11, 2019.