SPIA Development Consortium was awarded the original proponent status to develop Sangley airport
The Cavite provincial government issued the certificate of acceptance to the consortium on January 7, 2022
The consortium comprises the Yuchengco Group of Companies, MacroAsia Corp., Samsung C&T Corp., Munich Airport International GmbH, and Cavitex Holdings Inc
The Cavite provincial government awarded SPIA Development Consortium the original proponent status (OPS) to develop Sangley airport into an international gateway.
SPIA Development said Cavite Governor Juanito Victor “Jonvic” Remulla issued the certificate of acceptance to the consortium on January 7, 2022.
“The acceptance of the unsolicited proposal is a clear sign of the Province’s commitment to deliver this nationally significant and legacy project to the Filipino people,” the consortium quoted Remulla as saying in a statement.
“We are very glad and hopeful that this consortium made up of reputable domestic and well-known global development and investment companies will help us successfully complete the project,” Remulla said.
The consortium is composed of the Yuchengco Group of Companies, MacroAsia Corp., Samsung C&T Corp., Munich Airport International GmbH, and Cavitex Holdings Inc.
The group submitted its $10.9-billion (P556.28 billion) unsolicited proposal in November 2021, shortly after the Cavite provincial government declared a second failed bidding after no bids were received for the project.
The proposal included the creation of a joint venture with the Province of Cavite for the 1,500-hectare Sangley Point International Airport project.
The joint venture will be responsible for co-developing the project, providing the necessary equity investment, debt financing, and credit enhancements. It will also be performing engineering, procurement and construction services for the land and airport development components of the project.
The grant of an OPS gives a proponent the right to directly negotiate the final terms and conditions of the joint venture with the Cavite province as well as the right to match the best counter proposal that may be received during the 60-day mandatory competitive or Swiss challenge process.
To recall, MacroAsia Corp and its joint venture partner China Communications Construction Company Ltd. were the sole bidder to the P208.5-billion contract to develop and implement Phase 1 of SPIA, and were awarded the contract in February 2020. A year later in February 2021, the Cavite provincial government cancelled the award of contract, citing various deficiencies in submission of requirements.