The provincial government of Cavite expects to sign the engineering, procurement and construction contract with South Korea’s Samsung C&T Corp. for the planned $11 billion Sangley Point International Airport project (SPIA).
Cavite Governor Juanito Victor “Jonvic” Remulla said the contract is targeted to be signed in the first week of February.
Samsung C&T is known for building the world’s tallest tower, Dubai’s Burj Khalifa
The Cavite government has awarded the contract to transform the Sangley airport into a fully modernized, world-class and green facility to a consortium led by the Yuchengco family and Virata-owned Cavitex Holdings.
Cavitex is expected to bring its expertise in infrastructure development, while the Yuchengco Group of Companies, through House of Investments, will provide its expertise and financial resources in developing large-scale projects.
Other consortium members are MacroAsia which will extend its support in logistics and technical services for aviation; Munich Airport International GmbH, the operator of the five-start rate Munich Airport and Ove Arup & Partners Hong Kong Limited.
The project includes the construction of a four-kilometer connector road, with provisions for rail connectivity, fully-integrated logistics and aviation support facilities.
With the development of the first runway, the consortium can operate as a satellite runway aimed at relieving the extreme congestion of the runway at NAIA.
The project is expected to create 50,000 jobs and attract foreign direct investments.