GMR eyes P150B investment in Sangley airport

Indian infrastructure giant GMR Group is looking to build and operate the Sangley Point International Airport (SPIA) in Cavite, with the project expected to draw more than P150 billion in direct investment and create thousands of jobs.

The proposal was discussed during a 12 September meeting in New Delhi between President Ferdinand R. Marcos Jr., Finance Secretary Frederick D. Go, Trade Secretary Cristina A. Roque and GMR Group Chairman Srinivas Bommidala.

GMR is pursuing the airport project in partnership with Cavitex Holdings Inc. as part of its broader expansion in Philippine aviation and transport infrastructure.

The government said SPIA could generate about P500 billion in indirect economic impact, while providing a new gateway to help decongest the Ninoy Aquino International Airport and improve connectivity across the Greater Capital Region.

The project is also projected to generate $300 million to $500 million in government revenues and create between 10,000 and 15,000 jobs.

Roque said the government welcomed GMR’s continued confidence in the Philippines, noting that the group has invested more than P36 billion in the country since 2014, including airport developments in Cebu and Clark.

Go said continued investment in aviation infrastructure would be important in expanding the country’s capacity for economic growth.

GMR is also exploring opportunities to upgrade airport clusters in Bacolod, Tacloban, Busuanga and Laoag to support trade, tourism and regional development.