Consortium gets leeway to fulfill Sangley airport vow | Inquirer Business

Consortium gets leeway to fulfill Sangley airport vow

/ 05:12 AM September 25, 2020

Billionaire Lucio Tan’s MacroAsia Corp. and partner China Communications Construction Co. Ltd. (CCCC) won another extension from the Cavite government to finalize their joint venture for the planned P500-billion Sangley Point International Airport (SPIA) on Manila Bay.

After missing the last deadline on Sept. 9, MacroAsia said in a stock exchange filing on Thursday the Cavite government allowed the venture to submit the remaining postqualification requirements within 90 days after commercial air travel opens between the Philippines and China.

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The extension was given due to disruptions caused by the COVID-19 pandemic.

“This additional extension is granted subject to the firm commitment of the consortium to fully comply with the requirements on or before the new deadline,” the Cavite government said.Once the requirements are approved, MacroAsia-CCCC would be named the Cavite government’s joint venture partner in SPIA.

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MacroAsia-CCCC bagged the award to build the first phase of the project on Feb. 14. Since then, the project has been hit by rolling delays due to strict COVID-19 lockdown and travel restrictions.

SPIA is also facing renewed opposition after the US government placed Chinese companies on a sanctions list for their role in building artificial islands on disputed waters in the West Philippine Sea. The list includes subsidiaries of CCCC.

Presidential spokesperson Harry Roque said the Sangley airport and other projects involving Chinese contractors would push through while Cavite Gov. Juanito Victor “Jonvic” Remulla also stood by CCCC.

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TAGS: China Communications Construction Co. Ltd. (CCCC), MacroAsia Corp., Sangley Point International Airport (SPIA)
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