Latest News

SM group partners with Solar group for airport, seaport proposal

SM group partners with Solar group for airport, seaport proposal

MANILA – SM’s Belle Corp. and Solar group’s All-Asia Resources and Reclamation Corp. (ARRC) have signed an agreement to support plans for an airport, seaport, and mixed-use development at Sangley Point, Cavite.
“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,” said Wilson Tieng, president.

“It will also provide efficient land transportation connectivity for private and public vehicles and rail system. The special economic zone will provide a platform for industries to establish their manufacturing and processing plants that will allow them to operate in a freeport and logistics-friendly zone, thereby positioning the Philippines competitively in the forthcoming ASEAN Integration,” Tieng added.

Their proposal competes with San Miguel Corp., which offered to build an alternative airport two years ago in the same area.
San Miguel president Ramon Ang told Singapore’s Straits Times that the project will now be a “beauty contest” of which group can offer a more attractive proposal to government.
The second airport proposal isn’t new, but it now has a better chance of being approved by the Duterte administration, which has vowed to boost infrastructure spending and speed up projects.
The previous administration had been vocal about its lukewarm stance against unsolicited proposals like the Sangley airport. — ANC

Source: ABC-CBN News

you may also want to read

No Comments

Leave a Comment

Your email address will not be published.

Translate »