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DMCI, SM Group deny expressing interest in $10-b Sangley airport

Local contractor D.M. Consunji Inc. said Tuesday it is not interested in submitting a bid for the $10-billion Sangley international airport, a week before the deadline for securing bid documents.

“We have not received any invitation.  So far, it is not on our radar,” DMCI vice president for infrastructure and business unit head Dwight David Ta-Ala told reporters. 

When asked if the project is attractive, Ta-Ala said, “It really depends how they package the project.” 

Cavite Governor Jonvic Remulla earlier said DMCI bought bid documents for the Sangley ariport. 

DMCI said in a disclosure to the stock exchange last week that it was invited only by the provincial government of Cavite to attend a pre-bid conference for the project.

“This is to inform the investing public that the company has not secured the bid documents for the $10-billion Sangley Airport,” the company said.

Remulla was quoted as saying that at least five local and one Chinese companies were interested in the redevelopment of the project which aimed to decongest the Ninoy Aquino International Airport.

He said among the local firms that showed interest in the project were Metro Pacific Group, DMCI Holdings, Ayala Corp. and SM Investments Corp.

Ayala Corp. said its real estate subsidiary was still evaluating the project and made general inquiries with the Cavite local government.  SM Investments Corp. said it was not planning to participate in the Sangley development project. 

The provincial government of Cavite is the lead proponent and implementing agency of the project under a public-private partnership scheme. Cavite said it would no longer require the approval of the National Economic and Development Authority for its implementation.  

The deadline for the securing of bid is on Nov. 11, while the submission of bids was set on  Nov. 25, 2019.  Interested bidders could purchase bid documents for P10 million. 

The selected joint venture partner will provide the necessary equity investment and credit enhancements subject to a further competitive process or price test.

Aside from the legal, technical and financial qualifications set by the provincial government, the selected JV partner should 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.

The Cavite government expects to award the project by end of November and start the construction by January next yer. It  would separately bid out the operations and maintenance of the new international airport. 

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.

Topics: D.M. Consunji Inc. , DMCI , SM Investments Corp. , Sangley international airport
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