Cavite government grants initial promoter status to SPIA consortium – Manila Bulletin
The provincial government of Cavite has formally accepted and granted initial developer status to the SPIA Development Consortium’s unsolicited $ 10 billion proposal for Sangley Point International Airport (SPIA).
Members of the SPIA consortium include Cavitex Holdings Inc. (CHI) of Metro Pacific Investments Corp. (MPIC) and the Yuchengco Group of Companies (YGC); MacroAsia Corporation, as well as the global companies Samsung C&T Corporation of South Korea, Munich Airport International GmbH and Arup Group, based in London. SPIA’s proposal was accepted and granted to PAHO on Friday, January 7.
As the initial proponent, the Consortium has the right to directly negotiate the final terms of the joint venture with the provincial government.
The consortium also has the right to match the best counter-proposal that the government receives during the mandatory 60-day competitive process, or Swiss challenge.
“Our acceptance of the spontaneous proposal is a clear sign of the province’s commitment to deliver this project of national and heritage significance to the Filipino people,” noted Cavite Governor Juanito Victor Remulla.
In November of last year, the SPIA Development Consortium submitted its spontaneous proposal to form a joint venture with the province of Cavite for the SPIA project.
As soon as the project is awarded, the consortium is ready to transform Sangley airport into a premium gateway, the promoter said in a statement.
However, at the time of going to press, the consortium’s unsolicited proposal covers only the first phase of the $ 4.3 billion SPIA project.
Specifically, this includes Phase 1A of SPIA, the $ 2.3 billion first runway for 15 million passengers per year, and Phase 1B, a capacity expansion of $ 2 billion for 25 million passengers per year.
The SPIA is “urgently needed as a complementary airport to the NAIA given the post-pandemic requirements”, recognized the consortium.
After final planning, design and financial close, work would begin immediately with the construction of a 4.6 kilometer connection road from Cavitex’s Kawit interchange leading to Sangley.
The road link should be completed in two years, the consortium estimated.
“We hope that this consortium, made up of reputable and well-known national national development and investment companies, will help us carry out the project,” added the governor.
Earlier, Cavite’s provincial government declared a second failure after receiving no bids for the airport project last October.
The long-delayed SIA was touted as an alternative to the congested Ninoy Aquino International Airport (NAIA), with the latter’s quadruple capacity to 130 million passengers per year.
SPIA was designed as a fully modernized, world-class and environmentally friendly airport that will meet growing passenger demand over the next 30 to 40 years.
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