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Business

Sangley Point consortium signs deal with Cavite LGU

Iris Gonzales - The Philippine Star
Sangley Point consortium signs deal with Cavite LGU
In a disclosure yesterday, the Yuchengco Group’s House of Investments said that, together with the other consortium members for the SPIA, it had signed the joint venture and development agreement with the provincial government of Cavite.
STAR / File

MANILA, Philippines — The development of the $11-billion Sangley Point International Airport (SPIA) has moved a step closer to reality now that its private sector proponents have finally signed the development agreement with the local government of Cavite.

In a disclosure yesterday, the Yuchengco Group’s House of Investments said that, together with the other consortium members for the SPIA, it had signed the joint venture and development agreement with the provincial government of Cavite.

The SPIA Development Consortium, which received the notice of award from the Cavite government last September, consists of the Yuchengco Group, Cavitex Holdings Inc. and Lucio Tan-owned MacroAsia Corp. along with foreign partners.

With the signing of the agreement, the group is ready to commence the work necessary to finally implement the long-needed infrastructure project that is aimed at providing a premium gateway that will initially serve as an alternative to the Ninoy Aquino International Airport.

SPIA is designed to meet an anticipated increase in demand for air transport in the next 30 to 40 years.

Cavitex Holdings Inc. will bring its expertise in infrastructure development, while the Yuchengco Group, through House of Investments will contribute its expertise in engineering and construction, property development and financial services in developing large-scale projects.

Tan-owned MacroAsia Corp., on the other hand, will lend its expertise in logistics and technical services for aviation support. Foreign members of the consortium include Samsung C&T Corp., Ove Arup & Partners Hong Kong Limited and Munich Airport.

Samsung C&T Corp. is the construction company of the Samsung Group, builder of the Burj Khalifa, and is one of the leading global airport construction companies.

It has more than 40 years of engineering and construction experience worldwide. Among its international airport projects include Incheon International Airport, Mongolia, New Ulaanbaatar International Airport, Taiwan and the ongoing expansion of the Taoyuan International Airport’s Terminal 3.

Ove Arup has expertise in land reclamation and airport projects such as Kansai International Airport, New Kunming International Airport, Dalian Airport, Western Sydney Airport, New Istanbul Airport and New Mexico City International Airport.

The Munich Airport is the first and only airport in Europe with a five-star rating from the London-based Skytrax Institute.

Sangley Point International Airport is envisioned as a two-runway airport with a capacity for 75 million passengers per year, expandable to four runways to handle up to 130 million passengers per annum, according to the consortium’s proposal.

The project includes the construction of a four-kilometer connector road, with provisions for rail connectivity, as well as fully integrated logistics and aviation support facilities.

With the development of the first runway, SPIA can operate as a satellite runway to immediately relieve the extreme congestion of the runway at NAIA, the consortium said.

SPIA is expected to create 50,000 jobs and be a catalyst project to bring in foreign direct investments that will promote trade and economic development, proponents said.

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