Lucio Tan, Yuchengco Group-Led Consortium Submits New Proposal to Develop Sangley Point Airport
After two failed attempts to develop Sangley Point International Airport (SPIA), a new consortium led by taipan Lucio Tan and the Yuchengco family have submitted a new unsolicited proposal to the provincial government of Cavite.
The proposed partnership worth $10.9 billion (P548.74 billion) was submitted by the SPIA Development Consortium, whose members include the Yuchengco Group of Companies, MacroAsia Corp., Samsung C&T Corp., Munich Airport International GmbH, and Cavitex Holdings Inc., (unrelated to the similarly named company under Manny Pangilinan’s Metro Pacific group).
The government declared a second failed auction to develop SPIA last October 20.
“The proposed partnership with Cavite province will encompass the development, design, financing, construction, operation and maintenance of the Sangley airport project that is seen to provide an alternative to, and ease the congestion at, the Ninoy Aquino International Airport as well as boost economic growth and enhance the local tourism and aviation industries,” the statement read.
A representative of the consortium said there will be two phases in the development of the SPIA.
Phase 1A, which is worth about $2.3 billion, involves the development of the first runway and terminal building that can handle up to 15 million passengers annually. Phase 1B, worth $2 billion, will then expand the airport’s capacity to 25 million passengers per year.
Phase 2, meanwhile, which will cost $6.6 billion, involves the construction of a second runway and the expansion of the airport’s capacity to 75 million passengers annually.
“Sangley airport is envisioned to become a fully-modernized, world-class and green airport that is designed to expand as demand for air transport services increases in the next 30 to 40 years, and as operations at Naia are eventually phased out to allow for a redevelopment of the site and its surrounding areas,” the statement read.
The local government of Cavite first awarded the project to develop and rehabilitate SPIA to state-owned China Communications Construction Co. Ltd. (CCCC) and MacroAsia in 2020. It was later revoked due to “various deficiencies in the submission requirements to conclude the joint venture agreement for the SPIA.”
The second attempt also failed when none of the four companies—Metro Pacific Investments Corp., CCCC, Philippine Airport Ground Support Solutions Inc., and Mosveldtt Law Office—submitted a bid.
Other groups have submitted proposals to develop SPIA, including San Miguel Corp. and Solar Group-backed All-Asia Resources and Reclamation Corp.