Sy-Tieng group’s Sangley airport plan still holds a chance – DoTr
The unsolicited proposal of a consortium led by the family of taipan Henry Sy Sr. and businessman Wilson Tieng to build a $12 billion international airport at Sangley Point, Cavite still stands a chance, the Department of Transportation said.
The DOTr said the Sy-Tieng proposal was still on the table and that everything would depend on how the Cavite government would address the the technical and financial issues surrounding its own airport development project.
DOTr’s legal department has rejected the Cavite provincial government’s proposed P552.08 billion airport project at Sangley Point allegedly due to lack of technical and financial capability.
“As I’ve said we are prioritizing the government proposal over the private sector unsolicited proposal [for Sangley],” said Ruben Reinoso, DOTr undersecretary for planning and project development.
The government earlier said it was pursuing the development of airports in Bulacan and Sangley to decongest the busy Ninoy Aquino International Airport.
Under the Sy-Tieng group’s proposal, the regional airport hub can accommodate about 120 million passengers a year once fully developed. The proposed concession period is 50 years.