A consortium comprising local and foreign firms have reportedly submitted a proposal for the development of the Sangley Point International Airport (SPIA) in Cavite City, Philippines.
The unsolicited proposal comes after the Cavite provincial government announced a second failed auction for the SPIA development project last month.
The SPIA Development Consortium has proposed the formation of an alliance with the Province of Cavite for the execution of the project.
Members of the consortium include the Yuchengco Group of Companies, MacroAsia, Samsung C&T, Munich Airport International, Cavitex Holdings, and the London-based Arup Group.
Under the proposed partnership with Cavite province, the consortium will cover the development, design, construction, financing, operation and maintenance of the airport.
This airport is expected to alleviate pressure from Ninoy Aquino International Airport (NAIA), as well as enhance economic development.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
As a non-equity member of the consortium, MacroAsia will offer management and technical services for the aviation support, along with the project’s logistics component.
The consortium said that they possess the required legal, technical and financial qualifications for the advancement of the SPIA project.
It is set to begin development activities after securing the project award.
The SPIA Development Consortium said: “We share the vision of delivering SPIA as a modern, world-class, efficient and green international hub airport and a new main gateway to the country that Caviteños and all Filipinos will be truly proud of.”
The new airport is expected to be developed as a ‘fully modernised, world-class and green’ airport and will be constructed to allow future expansion according to the demand for air transport services.
Eventually, NAIA will phase out its operations to enable redevelopment of the site, as well as its surrounding regions.
At the beginning of this year, the Philippines cancelled its decision to award a $10bn airport project to a Chinese state firm-led consortium.