The Cavite government plans to raise P200 billion from a bond offering to bankroll the construction of an international airport in Sangley Point.
The planned bond float comes after the Department of Transportation issued an ultimatum to the Cavite government to iron out the kinks in its P500 million airport proposal by June this year.
“We are pursuing all avenues possible to make the airport push through,” said Cavite Governor Jesus Crispin ‘Boying’ Remulla.
Remulla, however, said they might not meet the June deadline.
The planned Sangley airport can initially accommodate 50 million passengers.
Transportation Secretary Arthur Tugade is keeing his options open for Sangley as there is also a similar proposal submitted by the SM Group and Solar Corp.’s Wilson Tieng.
The Sy-Tieng group’s proposal requires an investment of about $12 billion.It is designed to have two parallel runways and sufficient airside and terminal capacity to accommodate future demand for the domestic and the international traffic.
