The House of Investment said it signed on Monday, together with other members of the Sangley Point International Airport (SPIA) consortium, a joint venture agreement with the provincial government of Cavite.
The House of Investment-led SPIA consortium had proposed an $11-billion development of the facility in Cavite City as alternative to the already congested Ninoy Aquino International Airport.
The consortium includes as members Cavite Holdings Inc., Macroasia Corp, Ove Arup & Partners Hong Kong Ltd., Munich Airport International Airport GmbH, which is Europe’s only five-star airport, and Samsung C&T Corp., the company that built the Terminal 1 of Incheon International Airport and the extension of Changi Airport.
SPIA consortium’s unsolicited proposal to develop the former U.S. Naval Station into an international airport had been subjected to but withstood a Swiss Challenge.
The unsolicited proposal features twin runways that could handle as much as 75 million passengers a year during the initial stage. Future expansion will add two more runways to lift the airport’s annual capacity to 130 million passengers.
