MacroAsia (PSE:MAC) is a component of the conglomerate of business tycoon Lucio Tan. It is an affiliate of flag carrier Philippine Airlines.
As one of the leading providers of aviation-related support services in the Philippines, MacroAsia has expertise in operating and developing important operating functions in an airport.
Last December 17, the company, together with its China-based collaborator, China Communications Construction Company Limited (CCCC), submitted a sole bid for the Sangley Point International Airport (SPIA).
This project is being implemented as a local government public-private collaboration and joint venture by the provincial government of Cavite, based on the news posted online by The Philippine Star, an English-language print and digital newspaper in the Philippines.
Jesse Grepo is the legal officer of the Cavite government public-private partnership selection committee.
Considering the present coronavirus dilemma in China, he affirmed that Tan’s business firm and their Chinese partner have requested for some time to submit some of the necessary documents being required by the government of Cavite.
Grepo said that the team would still have to comply with all the post-qualification requirements prior to an official signing of a joint venture agreement with the provincial government is performed.
Cavite Governor Jonvic Remulla remarked that he is hopeful that the team of MacroAsia and CCCC inks all the important documents by this month.
He cited that they should be able to have the first runway operational already upon the beginning of SPIA’s construction during the first year and a half, or an estimated 24 months at the most depending on the weather.
Remulla affirmed that this development would automatically expand the capacity of Manila’s Ninoy Aquino International Airport by twofold.
MacroAsia and the state-owned CCCC reportedly possess the advantage for the second phase of the SPIA.
Grepo relayed that the consortium will have the prerogative to offer for this next stage that amounts to $6 billion.
This development comes following the team’s securing of a notice of selection and award last Friday for the first stage of the Cavite initiative.
The SPIA’s first phase is targeted to break ground by the second quarter of this year.
This $4-billion undertaking includes the new Sangley connector road and bridge, which is a six-lane highway with urban mass transit connectivity directly connecting the Kawit interchange of the Manila-Cavite Expressway to the SPIA.
Furthermore, phase one of the project involves the development of an interim first runway that has a yearly design capacity for 25 million passengers.
By 2022, phase one is targeted for partial operability, and for full operability a year later.
- Key Prices for PH Bluechip Stocks 30% Above 52-Week Low - June 4, 2024
- May 2024 Market Sentiment Rating of 30 PH Bluechip Stocks - June 3, 2024
- EquiTalks: ICT, BPI, AEV Updates – 5.29.2024 - May 29, 2024
