Lucio Tan’s MacroAsia, Chinese partner to build Sangley Airport Phase 1

The tandem of MacroAsia and CCC was the sole bidder to develop the $10-billion Sangley Point International Airport, which is being implemented as a local government public-private partnership joint venture by the provincial government of Cavite.
STAR/File

MANILA, Philippines — A consortium composed of Lucio Tan’s

MacroAsia Corp. and Chinese state-owned

firm China Communications Construction Corp. said Friday they bagged the contract for the Phase 1 of the Sangley Point International Airport project.

In a disclosure to the stock exchange,

MacroAsia said

the tandem was chosen as a joint venture partner of the Cavite government to implement the project, which has an estimated cost of approximately P208.5 billion.

“It will take 12 to 18 months for the consortium to complete the detailed engineering design leading to financial closing,”

MacroAsia said.

The team of

MacroAsia and CCCC was the sole bidder to develop the $10-billion Sangley Point International Airport. 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.

CCCC was previously debarred by the World Bank due to alleged fraudulent practices by one of its subsidiaries, China Road and Bridge Corp., with sanctions extending to the entire group under CCCC and all its affiliate companies worldwide.  

The

debarment

was lifted in Jan. 2017 and CCCC has since

been allowed to

participate in all World Bank Group-financed tenders. — with a report from The STAR/Richmond Mercurio

Show comments