The Sangley airport offer of the Virata-Yuchengco OKayed group

The Cavite government accepted an offer from a consortium led by Virata and Yuchengco to build a new international airport at Sangley Point in Manila Bay, paving the way for final negotiations and a tendering process.

In a statement released on Monday, the SPIA Development Consortium said it had obtained original developer (OPS) status for the massive gateway, which will be completed in phases at an estimated project cost of nearly $ 11 billion. dollars.

An OPS is a critical step for unsolicited projects governed by the Build Operate Transfer Act. The holder of an OPS is also allowed to match counter-offers as part of the mandatory 60-day Swiss competition or challenge process.

Cavite Governor Juanito Victor “Jonvic” Remulla officially issued the certificate of acceptance on January 7th.

In the same statement, he said the decision was “a clear sign of the province’s commitment to deliver this project of national and heritage significance to the Filipino people.”

The main investors were the Yuchengco Group, one of the country’s largest conglomerates with interests spanning infrastructure, banking, insurance and automotive services, and the Virata Cavitex Holdings Inc. family, which developed the Cavite Expressway project. .

The toll road project was ultimately acquired by the infrastructure giant led by Manuel V. Pangilinan, Metro Pacific Investments Corp.

Additionally, MacroAsia Corp. de taipan Lucio Tan will be a non-participating member of the consortium providing management and technical services for aviation support.

The foreign partners of the SPIA consortium are Munich Airport International GmbH, the management services arm of Munich Airport, and Samsung C&T Corp., which built Terminal 1 at Incheon International Airport in South Korea and the extension of Changi International Airport in Singapore. London-based design firm Arup Group is also joining.

“The long-delayed Sangley Airport project is envisioned as a fully modernized, world-class and environmentally friendly airport designed to meet an expected increase in demand for air travel over the next 30 to 40 years,” the consortium said in the statement.

He added that Sangley Airport was crucial as operations at Manila’s Ninoy Aquino International Airport (Naia) “are finally halted to allow development of the site and its surroundings.”

The consortium’s proposal covers Phases 1A and 1B, which will provide a total capacity of 25 million passengers per year at an estimated project cost of $ 4.3 billion.

There are also plans to build a second runway and expand capacity to 75 million passengers per year at an additional cost of $ 6.6 billion.

The consortium is one of two groups vying to establish an international airport to replace Naia, the main gateway to the country.

The conglomerate San Miguel Corp. announced earlier that it was building a $ 14 billion airport town in neighboring Bulacan province.

The SPIA consortium said it would also build a 4.6 kilometer connection road from Cavitex’s Kawit interchange that would lead to Sangley “with an estimated completion time of two years.”

A previous attempt to build an international air hub at Sangley failed.

On January 26 of last year, Remulla canceled the February 12, 2020 award to state-owned China Communications Construction Co. Ltd. and MacroAsia after companies failed to comply with Cavite government’s demands.

On October 20, he declared another tender failure after no bids were submitted before the deadline.

The Inquirer previously reported that the initial venture was weighed down by national security and economic concerns as critics feared it could turn into a debt trap where China obtains strategic concessions from borrowers who have defaulted. on their loans. INQ

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@miguelrcamusINQ

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