The provincial government of Cavite and a consortium led by business tycoons Virata, Yuchengco and Tan signed on Monday a joint venture agreement to build the Sangley Point International Airport (SPIA).
Cavite Governor Jonvic Remulla led the ceremony with the representatives from the group comprised of the Virata-led Cavitex Holdings, Yuchengo-led House of Investments, Inc., MacroAsia Corp., and Lucio Tan’s family’s aviation support services.
Some international partners were involved in the project including the South Korean construction and engineering firm Samsung C&T Corp., Munich Airport International, a wholly-owned subsidiary of Flughafen München GmbH, and the UK-based design firm Arup.
In September 2022, the provincial government awarded the SPIA contract to the so-called “super consortium” with their foreign partners to transform SPIA into “a fully modernized, world-class, and green airport.”
The first phase of this $11 billion-worth project is expected to be operational by 2028 and is projected to generate some 50,000 jobs in the province.
This Cavite airport will be considered Manila’s second gateway and targeted to relieve the congestion at Ninoy Aquino International Airport.
Thumbnail photo courtesy of Denver Chua/FB