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A consortium composed of Philippine, European, and South Korean companies has secured a contract for $11 billion airport project in the Philippines that was previously eyed by China, the group announced on September 15.
House of Investments, the investment holding and management company of the Yuchengco Group, has obtained the approval of its board of directors to partner with the provincial government of Cavite as part of the private sector consortium developing Sangley Point International Airport in Cavite.
The provincial government of Cavite and its potential joint venture partner are targeting to break ground with the development of the massive Sangley Point International Airport project by the end of the year.
With its original proponent status, the SPIA Development Consortium will have the right to directly negotiate the final terms and conditions for the Sangley airport project
A powerhouse consortium of local and foreign companies has secured the original proponent status (OPS) for its unsolicited proposal to develop the Sangley Point International Airport project.