The Cavite provincial government has awarded to the consortium of MacroAsia Corporation and China Communications Construction Company Ltd. the P208.5-billion Sangley Point International Airport (SPIA) project.
MacroAsia, in a regulatory disclosure, said it received via email on February 14 the Notice of Selection and Award to develop and implement Phase 1 of SPIA.
After signing the joint venture development agreement, MacroAsia said it will take them 12 to 18 months to complete the detailed engineering design leading to financial closing.
The tandem of aviation services company and Chinese state-run firm was the sole bidder of the project to develop a 1,500-hectare international airport.
The consortium will be responsible for co-developing the project, providing the necessary 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 and the next big thing in air transport innovation in the country, will feature four runways as well as airside and landside facilities. The airport is expected 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.