SANGLEY INTERNATIONAL AIRPORT UPDATE 2023

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SANGLEY INTERNATIONAL AIRPORT PROJECT UPDATE 2023 • SPIA A consortium submitted a proposal to construct the Sangley Point International Airport finally signed with the Cavite provincial government a joint venture and development agreement for the $11-billion Sangley Point International Airport showing its determination to deliver the alternative gateway project seen to decongest Ninoy Aquino International Airport (Naia). • The consortium has submitted the $5-billion performance bond.Performance bond is also known as a contract bond, which is a financial guarantee to ensure completion of a project.the groundbreaking ceremony will be held in a year, to be followed by four years of construction for the first runway and another four years for the second. • The consortium seeks to provide an annual capacity of 25 million passengers initially. It also plans to create a second runway to expand capacity to 75 million passengers per year. • The Yuchengco-led House of Investments on Monday said it and other members of the Sangley Point airport consortium have signed a joint venture deal with the Provincial Government of Cavite. • The agreement was signed on Feb. 6, the company said in a disclosure to the stock exchange. • In compliance with the disclosure requirements of the Commission, our Company hereby informs the SEC that the House of Investments, Inc. • The Virata-Yuchengco-led consortium—which was granted original proponent status (OPS) in January 2022—bagged the Sangley contract in September last year after completing the 60-day competitive or Swiss challenge about a month earlier. It did not face other competitors during the process, which led to it finally securing the project. • In September 2022, the Cavite LGU announced it had awarded the $11 billion Sangley Point International Airport project to the SPIA consortium. • Other members of the consortium include Cavitex Holdings Inc, Samsung C T Corp with MacroAsia Corp, Munich Airport International GmbH and Ove Arup Partners Hong Kong Ltd. • According to the Cavite LGU, Phase 1 of the project includes the first runway which is expected to be operational by 2028. The airport is projected to generate some 50,000 jobs as well as spur economic activities in the area. • The foreign partners of the SPIA consortium are Munich Airport International Airport GmbH, which is Europe’s only five-star airport, and Samsung C T Corp., the company that built Terminal 1 of Incheon International Airport and the extension of Changi Airport. It is also joined by Lucio Tan’s MacroAsia Corp. as a nonequity member providing management and technical services for aviation support. • The SPIA project was originally awarded to a consortium that included China Communications Construction Co (CCCC) in 2019, but it was later on canceled by the Cavite LGU. • #sangleyinternationalairport • #sangleyinternationalairportupdate • #sangleyinternationalairportupdate • DONT FORGET TO LIKE SHARE COMMENT AND SUBSCRIBE... • HIT THE NOTIFICATION BELL 🔔 FOR MORE UPDATES • MUSIC • YOUTUBE AUDIO LIBRARY • • THANK YOU FOR WATCHING!!

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