8 November 2021
MacroAsia is bidding again construction of Sangley International Airport, this time with more financial and technical muscles as it submits $10.9-billion unsolicited proposal to design, reclaim, construct, develop, and operate Sangley International Airport in Sangley Point, a former US naval base, in
partnership with the local government of Cavite.
The new joint venture dubbed SPIA Development Project Consortium is backed by airport financier Yuchengco Group under Cavitex Holdings Inc., the company responsible for the development, design and construction of the 14-kilometer Manila-Cavite Expressway project, airport builder Samsung C&T Corp. of South Korea, airport operator Munich Airport International GmbH, and London-based airport engineering and architecture services firm Arup Group, to form minority management group.
Yuchengco Group under Cavitex Holdings is engaged in construction, infrastructure development, banking, insurance, and automotive services, among others, is expected to take majority non-management portfolio.
MacroAsia will provide management and technical services for the aviation support and logistics component of the project. However, it will be a non-equity member of the consortium.
The joint-venture proposal was submitted by the group to the Province of Cavite last week for their evaluation.
The group said they submitted the proposal to the office of Cavite Gov. Juanito Victor “Jonvic” Remulla.
Province of Cavite earlier canceled the public-private partnership project with MacroAsia Corp. and the state-run China Communications Construction Co. Ltd. (CCCC) due to financial and funding issues.
According to MacroAsia, Phase 1A of the project involves reclamation of 2,000 hectares of land for the construction of a new 4km. runway, taxiway, and passenger terminal building (PTB) which is estimated to cost $2.3 billion. The PTB will have capacity of 15 million passengers on its opening date.
Another $2 billion is proposed to be earmark for Phase 1B to expand PTB to accommodate capacity to 25 million passengers.
The second phase of the project involves the construction of the second 4k runway and parallel taxiway with a price tag of $6.6 billion.
Phase 2 also includes construction of another PTB to bring airport capacity to 75 million passengers annually.
The new proposal aims to provide an alternative
international gateway for Metro Manila, with a view of easing the congestion at
Ninoy Aquino International Airport (Naia) while also boosting economic
growth and enhancing the local tourism and aviation industries in Cavite.
The consortium said it was ready to start full project development activities as soon as the project award is granted.
The writer of the article forgot to mention who control MicroAsis . I will give him a hint. The person in charge is the same guy who has PAL is bankruptcy right now. Plus that person has loaned PAL million of dollars to keep PAL running. So where is that person getting money to build Sangley.
ReplyDeleteIF you read the article carefully, it specifically state who intends to bankroll the project. And its not the LT Group. The company that finances it is also no pushover, if you know who they are.
ReplyDelete