The provincial government of Cavite awarded the development and implementation of an international airport in Sangley Point to the consortium of China Communications Construction Company Ltd. and MacroAsia Corp.
MAC said in a disclosure to the the stock exchange Friday it received the notice of selection award for the Sangley Point International Airport Project from the provincial government of Cavite on February 14.
The notice states that CCCC and MAC were selected as the joint venture partners of the province of Cavite and awarded the development and implementation of Phase 1 of the Sangley Point International Airport (SPIA) Project.
The estimated total project cost Phase 1 is about P208.5 billion.
“From the signing of the Joint Venture Development Agreement (JVDA), it will take 12 to 18 months for the consortium to complete the detailed engineering design leading to financial closing,” MAC said.
Only the consortium of CCCC and MacroAsia in December submitted a bid for the Sangley international airport. Other groups that earlier expressed interest in the project failed to submit bids, including Prime Asset Ventures Inc. of businessman Manuel Villar, Philippine Airport Ground Support Solutions Inc., Metro Pacific Investments Corp., Langham Properties Inc. and Mosveldtt Law Offices.
The provincial government of Cavite is the lead proponent and implementing agency of the project. It supports the Transportation Department’s multi-airport strategy to decongest Ninoy Aquino International Airport, the country’s main international gateway whose passenger volume was 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, and airside and landside facilities with an annual capacity of up to 130 million passengers.
It 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.
The provincial government of Cavite plans to separately bid out the operations and maintenance of the new international airport.