-
The Philippine Competition Commission has cleared the Cavite provincial government and SPIA Development Consortium deal for the development of the Sangley Point International Airport Project
-
House of Investments, Inc., which is part of SDC, said it received the PCC resolution on the same day
-
SDC and the Cavite provincial government signed on February 6, 2023 a joint venture and development agreement for the $11-billion SPIA Project
The Philippine Competition Commission (PCC) has cleared the Cavite provincial government and SPIA Development Consortium (SDC) deal for the development of the Sangley Point International Airport (SPIA) Project in Cavite.
House of Investments, Inc. (HOI), which is part of SDC, said in a regulatory disclosure on July 23 that it received the PCC resolution on the same day. HOI filed the notification with PCC last March in compliance with the Philippine Competition Act in connection with the proposed joint venture (JV) for the SPIA project.
Other members of SDC include Cavitex Holdings Inc., Samsung C&T Corp., MacroAsia Corp., Munich Airport International GmbH, and Ove Arup & Partners Hongkong Ltd.
SDC and the Cavite provincial government signed on February 6, 2023 a JV and development agreement for the $11 billion SPIA Project.
The signing clears the way for the consortium to begin preparatory work on the airport project.
On September 14, 2022, the Cavite provincial government officially awarded the contract to SDC, whose members also signed their Consortium Collaboration Agreement during the same event.
The awarding came after no firm challenged the consortium’s unsolicited proposal until the August 17, 2022 deadline for the project’s competitive challenge process.
SDC submitted its unsolicited proposal for a joint venture with the Cavite provincial government to develop SPIA in 2021, after the latter declared as failed the second bidding for the project in October 2021.
READ: SPIA consortium awarded US$11B Sangley airport project
SPIA is envisioned as a two-runway airport with annual capacity of 80 million passengers, expandable to four runways that can handle as many as 130 million passengers a year.
The airport project aims to provide a premium gateway that will initially serve as an alternative to the Ninoy Aquino International Airport (NAIA) and is designed to meet an expected increase in demand for air transport in the next 30-40 years.
The project includes the construction of a four-kilometer connector road with provisions for rail connectivity, as well as fully-integrated logistics and aviation support facilities.
With the development of the first runway, SPIA can operate as a satellite runway to immediately relieve the extreme congestion of the runway at NAIA.
The consortium said the SPIA development is expected to create 50,000 jobs and be a catalyst project to bring in foreign direct investment.
){kind=link}