Sangley airport developers gets 90-day filing extension

0
2372
Infographic from Sangley Point International Airport's Facebook page
Infographic from Sangley Point International Airport’s Facebook page

The Cavite provincial government granted the request of MacroAsia Corp. and China Communications Co. Ltd. (CCCC) for another deadline extension on submission of final requirements for the multi-billion-peso Sangley Point International Airport (SPIA) project.

In a regulatory disclosure on September 24, MacroAsia said they have received an email response from the Cavite provincial government granting their joint venture’s (JV) request to extend anew the deadline. Thus the September 9 deadline is extended by another 90 days “immediately after commercial air travel resumes between the Philippines and China” for the tandem to comply with all conditions of the project’s Notice of Selection and Award (NOA).

READ: Sangley airport JV confirms filing extension request

The provincial government, in granting the fresh extension, considered the continuing adverse impact of the coronavirus (COVID-19) pandemic and the firm commitment of the JV to fully comply with requirements on or before the new deadline.

The provincial government also acknowledged receiving the JV’s submission of documents in partial compliance with conditions set forth in the NOA. It will confirm the acceptability of documents after the consortium has fully complied with prescribed requirements and a complete review of all submissions has been conducted.

MacroAsia earlier confirmed the JV had asked for another extension after failing to submit the required post-qualification documents due September 9.

A two-month extension was initially given to the JV last April. In June, it was granted a 90-day extension to submit post-qualification requirements in view of the ongoing coronavirus pandemic.

MacroAsia earlier said the pandemic had delayed its processes, including the completion of JV documents prior to any signing of legal or financial contracts.

The Cavite government last February awarded the P208.5-billion contract to develop and implement Phase 1 of SPIA to the tandem, the sole bidder of the project to develop a 1,500-hectare international airport at Sangley Point.

The consortium plans to co-develop the project and provide equity investment and credit enhancements. And subject to a further competitive process or price test, it will perform engineering, procurement and construction services for the land and airport development components of the project.

The airport hub, which is being positioned as an alternative to congested Ninoy Aquino International Airport, will feature four runways as well as airside and landside facilities. The airport aims to be on a par with Singapore’s Changi International Airport, Hong Kong International Airport, and South Korea’s Incheon International Airport.

The project’s first phase is slated for completion in 2022 and is expected to accommodate 75 million passengers yearly. The second phase of development will follow, with target completion of 2028. The airport can accommodate up to 130 million passengers annually once fully completed.