SM Group’s Belle Corp. has partnered with Solar Group’s All-Asia Resources and Reclamation Corp. (ARRC) to airport and seaport at Sangley Point, Cavite, which will cost P960 billion (or around $20 billion). This is after the two giant corporations signed an agreement with this Saturday, October 30 to reclaim the 2,500-hectares land near Sangley point.
“This project started in 2012 when ARRC was established by the shareholders with a vision to build a world-class airport facility that can accommodate passenger traffic well into the year 2050, and the first integrated sea port that is accessible to the inhabitants and business enterprises located in the Greater Manila area,” ARRC president Wilson Tieng said.
“We will do the reclamation first and then we will start the airport which is a priority of the new government. We are strongly committed to help the government through private initiatives to help promote better infrastructure that we Filipinos deserve like the Philippine Global Gateway.” He added, noting that the new airport can accommodate around 50 million passengers.
The said proposed project will be built in phases, and will have a dual runway so that passengers easily transfer from one terminal to the other, and is being targeted to be operational in 2022, before the term of President Rodrigo Duterte ends. Apparently, the proposal was submitted to the previous administration back in 2013, but was ignored.
Tieng noted that President Duterte has verbally approved the project during his fifth Cabinet meeting last August. However, it will still compete with the 2014 proposal of San Miguel Corp to build a $10-billion alternative airport in Bulacan. San Miguel President Ramon Ang said that the competition for the government’s approval is now like a “beauty contest.”