A consortium led by business tycoons Virata, Yuchengco, and Tan has finally secured the deal for the $11 billion-worth Sangley Point International Airport (SPIA) after signing the joint venture project with the provincial government of Cavite on Wednesday, September 14.
Cavite Governor Jonvic Remulla led the awarding ceremony and signing agreement with the representatives from the group, comprised of Virata-led Cavitex Holdings, Yuchengo-led House of Investments, Inc., and MacroAsia Corp., and Lucio Tan’s family’s aviation support services.
Officers from their international partners were also present, 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.
Related story: Virata-Yuchengco-Tan partnership bags P618 billion Sangley Airport deal
The Cavite’s Sangley Airport, will be considered Manila’s second gateway after the single-runway Ninoy Aquino International Airport with an additional capacity of 100 million passengers per year.
Thumbnail photo from Denver Chua/FB