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Tuesday, February 25, 2020
Home Business Top Business Aboitiz not clear on $10-B Sangley bid

Aboitiz not clear on $10-B Sangley bid

 

ABOITIZ InfraCapital Inc. (AIC), the infrastructure arm of Aboitiz Equity Ventures Inc., is still studying the possibility of bidding for the $10-billion Sangley airport amid its existing unsolicited offer to upgrade the country’s main air hub.

AIC Chief Operating Officer Cosette Canilao said the group has to consider possible conflicts that may arise once it decides to participate in the bidding process for the project in Cavite province.

“We’re looking at what’s the terms and modality. We’re looking at what we cannot do given that we have the unsolicited offer for NAIA (Ninoy Aquino International Airport),” she said on the sidelines of the company’s financial briefing last week.


AIC is a part of the NAIA consortium, which is composed of big names in the market including AC Infrastructure Holdings Corp., Alliance Global Group Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp.

The so-called super consortium bagged the original proponent status in September 2018 for its P102-billion offer to upgrade the major airport, which has been suffering from overcrowding. In September, the Investment Coordination Committee of the National Economic and Development Authority gave its approval for the multibillion-peso project.

Asked when would the group decide to join the Sangley bid, Canilao said there was no clear target yet.

LISBET K. ESMAEL

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Today’s Front Page February 25, 2020

Today’s Front Page February 25, 2020