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Manila Bulletin devider Business devider Virata-Yuchengco-led consortium wins $11-B Sangley airport project

Virata-Yuchengco-led consortium wins $11-B Sangley airport project

Published Sep 15, 2022 12:23 pm

The Provincial Government of Cavite (PGC) awarded the $11-billion Sangley Point International Airport (SPIA) Project to the SPIA Development Consortium of the Viratas and the Yuchengcos..

PGC based the award on the proponent's unsolicited proposal submitted in November 2021, according to their statement issued Thursday, September 15, a day after the award of the contract was made.

The winning consortium's lead member, Cavitex Holdings, Inc. (CHI) of the Virata family, is a Philippine infrastructure development company with an established track record in land reclamation and transportation projects.

House of Investments, Inc. (HI), the investment holding and management arm of the Yuchengco Group of Companies and MacroAsiaCorporation (MAC), of the LT Group, are also part of the consortium. Foreign consortium members include Samsung C&T Corporation, a South Korean multinational construction and engineering firm which built the world’s tallest tower, Dubai’s Burj Khalifa. It will be the Lead EPC Contractor.

Munich Airport International GmbH, the operator of the 5-starrated Munich Airport,will serve as technical consultant for airport concept of operations and maintenance, including route development.

Ove Arup & Partners Hong Kong Limited, known for its prized work in airport design and engineering, will be the lead master development planner.

Under the Project’s framework, the PGC and the Consortium will have up to 18 months from the signing of the Joint Venture and Development Agreement –expected to take place next month – to finalize the Project’s design and business plan and to reach financial closing, so the new airport’s full-scale construction can start.

Phase 1 of SPIA, which includes the first of four runways, is expected to be operational by 2028.

The Phase 2 expansion will result in a two- runway system with airport facilities capable of handling at least 75 million passengers per annum.

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