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Filinvest, JG Summit submit new proposal to invest P839B to redevelop Clark

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Filinvest, JG Summit submit new proposal to invest P839B to redevelop Clark

/ 03:03 PM November 14, 2017

The Gotianun and Gokongwei groups have submitted a new unsolicited proposal to develop the Clark International Airport through a long-term joint venture agreement that would invest P839 billion for this project.

The Filinvest Development Corp. and JG Summit Holdings consortium has appointed Changi Airports International (CAI) – which is part of the group that operates Singapore Changi Airport –
as technical partner for this project, the consortium said in a press statement on Tuesday.

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The new proposal has been submitted to the Bases Conversion and Development Authority (BCDA) and the Department of Transportation (DOTr).

“This proposal is different from the one earlier submitted by the consortium as it does not include the construction of the second terminal building but instead proposes the long- term development of the airport into the country’s second international gateway and also includes the operation and maintenance of the existing and new terminals under a joint venture with BCDA,” the consortium said.

Based on the proposal, the consortium will build future capacity augmentation, expand airport facilities including terminals and runways, among others, as well as operate and maintain the existing and new passenger terminals.

The consortium also proposes to develop, operate and maintain the commercial assets of the Clark International Airport, which include facilities for general aviation and fixed- base operations, and real estate.

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TAGS: Clark International Airport, Filinvest Development Corp., JG Summit
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