Cavite LGU Signs Agreement for Sangley International Airport

The Yuchengco Group’s House of Investments has mentioned that with other consortium members for the Sangley Point International Airport (SPIA), they have signed the joint venture and development agreement with the local government of Cavite.

The SPIA Development Consortium is made up of Cavitex Holdings Inc., Yuchengo Group, MacroAsia Corp, and other foreign partners.

With the agreement signing, the group is looking to begin the work needed to implement the 11 billion dollar airport project that will serve as the alternative to the Ninoy Aquino International Airport.

SPIA is expected to cater to the increased demand for air travel in the next 30 to 40 years.

The Sangley Point International Airport is designed as a two-runway airport with a capacity for 75 million passengers annually. This airport is also expandable to four runways that can handle over 130 million passengers each year.

This project will include a four-kilometer connector road to be constructed, with provisions for rail connectivity and fully integrated logistics and aviation support facilities.

With the first runway development, SPIA can function as a satellite runway to directly alleviate the congestion of runways in NAIA, according to the consortium.

SPIA is predicted to provide over 50,000 jobs and function as a catalyst project that would bring in foreign direct investments that will promote economic development and trade.

Source: Philstar