SPIA Consortium secures Cavite's nod for airport project

The provincial government of Cavite officially accepted and granted original proponent status to the unsolicited proposal of the SPIA Development Consortium for the $10 billion Sangley Point International Airport (SPIA), according to a report by Manila Bulletin.

The SPIA consortium members include Cavitex Holdings Inc. (CHI) of Metro Pacific Investments Corp. (MPIC) and the Yuchengco Group of Companies (YGC); MacroAsia Corporation, along with global firms Samsung C&T Corporation of South Korea, Munich Airport International GmbH and London-based Arup Group. The SPIA proposal was accepted and granted OPS on Friday, Jan. 7.

As an original proponent, the consortium has the right to directly negotiate the final terms and conditions of the joint venture with the provincial government.

The consortium also has the right to match the best counter proposal that the government receives during the 60-day mandatory competitive process, or Swiss challenge .

“Our acceptance of the unsolicited proposal is a clear sign of the Province’s commitment to deliver this nationally significant and legacy project to the Filipino people,” remarked Cavite Governor Juanito Victor Remulla.

In November last year, the SPIA Development Consortium submitted its unsolicited proposal to form a joint venture with the Province of Cavite for the SPIA project.

As soon as the project is awarded, the consortium is ready to transform Sangley airport into a premium gateway, the proponent declared in a statement.

However, as of press time, the consortium’s Unsolicited Proposal covers only the first phase of the SPIA project worth $4.3 billion.

Specifically, this includes SPIA Phase 1A, the $2.3 Billion first runway for 15 million passengers per annum and Phase 1B, $2 billion capacity expansion for 25 million passengers per annum.

The SPIA is “urgently needed as a complementary airport to NAIA given post-pandemic requirements”, the consortium acknowledged.

After final planning, design and financial closing, the work would immediately begin with the construction of a 4.6-kilometer connector road from the Kawit Interchange of Cavitex leading to Sangley.

The road link should be finished in two years, the consortium reckoned.

“We hope that this consortium, made up of reputable domestic and well-known global development and investment companies, will help us successfully complete the project,” the governor added.

Earlier, the Cavite provincial government declared a second failed bidding after receiving no bids for the airport project last October.

The long-delayed SIA was being touted as an alternative to the congested Ninoy Aquino International Airport (NAIA), with quadruple the latter’s capacity at 130 million passengers per annum.

The SPIA was envisioned as a fully modernized, world-class and green airport that will meet increased passenger demand in the next 30-40 years.