Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Consortium to sign contract for Sangley airport in Sept.

by
August 22, 2022
in Investing News
0
Consortium to sign contract for Sangley airport in Sept.
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

By Arjay L. Balinbin, Senior Reporter

A CONSORTIUM composed of Philippine, European and South Korean companies is set to be awarded the contract to develop the Sangley Point International Airport (SPIA) in September, according to the Cavite provincial government.

Cavite Governor Juanito Victor “Jonvic” C. Remulla, Jr. confirmed to BusinessWorld on Monday that no groups participated in the “competitive challenge” or Swiss challenge process for the SPIA project.

The SPIA Development Consortium had submitted an unsolicited proposal to develop the Sangley airport.

It is composed of the Virata-led Cavitex Holdings; Yuchengo-led House of Investments, Inc.; MacroAsia Corp., an aviation support services provider controlled by the family of billionaire Lucio C. Tan; Samsung C&T Corp., a South Korean construction and engineering company; Munich Airport International, a wholly owned subsidiary of Flughafen München GmbH; and Arup, a UK-based design company.

Cavite’s Public-Private Partnership (PPP) Selection Committee Chairman Renato A. Abutan informed Cavitex Holdings in an Aug. 18 letter that the province intends to award the contract to the SPIA Development Consortium on Sept. 14. The date is still tentatively scheduled.

Mr. Remulla sent a copy of the letter to BusinessWorld on Monday.

All unsolicited proposals are required to undergo a Swiss challenge, wherein other groups may submit counterbids.

As demand for air travel is expected to increase in the next 30 to 40 years, the province of Cavite has been pushing for the development of the SPIA as an alternative to the Ninoy Aquino International Airport in Pasay City, the Philippines’ primary gateway.

MacroAsia President and Chief Operating Officer Eduardo Luis T. Luy told reporters on Friday that there were no bids submitted during the Swiss challenge, saying this is a “good sign.”

“We (MacroAsia) are mostly going to be on the O&M (operations and maintenance) side, because previously we were supposed to be part of this project in a different way. Now that goal has kind of shifted, we will be participating more on the operations side of things,” he said on the sidelines of the formal opening of Lufthansa Technik Philippines, Inc.’s new hangar in Pasay City.

To recall, MacroAsia and its partner China Communications Construction Co. Ltd. had negotiated with Cavite for the project in 2020, but the province canceled its notice of selection and award in January 2021 due to the “various deficiencies in the submission of requirements to conclude the joint-venture agreement.”

Cavite City’s Sangley Point, located along a peninsula that juts out to Manila Bay, is currently operated by the National Government as a supplemental runway to NAIA. The airstrip was first built in 1951 by the US Navy.

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Marcos proposes record P5.3-T budget

Marcos proposes record P5.3-T budget

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Getting to Know You — Freddie Marshall Carson, Music Technologist

Getting to Know You — Freddie Marshall Carson, Music Technologist

July 18, 2022
Trading 101: CFDs

Trading 101: CFDs

June 5, 2022
For the love of Thor! Why it’s so hard for Marvel to get its female superheroes right

For the love of Thor! Why it’s so hard for Marvel to get its female superheroes right

July 14, 2022

Transformation redefined: Putting transformational leadership at the heart of business

June 1, 2022
DepEd bats for additional benefits for teachers instead of wage hike  

DepEd bats for additional benefits for teachers instead of wage hike  

July 27, 2022
Twitter rejects Musk’s claims that he was hoodwinked

Twitter rejects Musk’s claims that he was hoodwinked

August 5, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.