Major Airport development tender in the Philippines
The provincial government of Cavite in the Philippines has opened the submission of bids for the implementation of the Sangley Point International Airport Project through a joint venture (JV) partnership scheme. The international air hub is to be pursued under the Public-Private Partnership (PPP) Code.
Cavite is the implementing agency of the project which supports the Department of Transportation’s (DOTr) multi-airport strategy to decongest Ninoy Aquino International Airport (NAIA), the country’s main international gateway, whose passenger volume is already about 40 percent above its design capacity of 31 million passengers yearly.
The 1,500-hectare master-planned international airport hub will feature four runways, airside and landside facilities, and can accommodate up to 130 million passengers annually. The airport is expected to be on par with Singapore’s Changi International Airport, Hong Kong International Airport, and South Korea’s Incheon International Airport.
The selected JV partner will be providing the necessary equity investment and credit enhancements, and subject to a further competitive process or price test, perform engineering, procurement and construction (EPC) services for the land and airport development components of the project. In addition to the legal, technical and financial qualifications set by the Cavite government, the selected JV partner must also pass the credit standards of the project lenders.
The fully integrated Sangley Point International Airport is a key project under the government’s Build Build Build infrastructure development agenda and enforces the Japan International Cooperation Agency dream plan which aims to increase efficiency, mobility and quality of life in Metro Manila through a modern and well-coordinated transport system.
The target completion of the project’s first phase is planned for 2022 and will be able to accommodate 75 million passengers yearly. Project first phase is valued at USD 3 billion. The second phase of development will follow with target completion on 2028.
The deadline for the submission of proposals is on November 25.