China's CCCC, Philippines' Macroasia win $10 billion airport project
MANILA (Reuters) - China Communications Construction Co Ltd (CCCC) and its local partner have won an auction for a $10 billion airport on the outskirts of Manila, the latest move by Chinese state firms to gain a foothold in the Philippines.
CCCC joined airline service company Macroasia Corporation in a consortium with the Cavite provincial go nment to carry out the Sangley Point International Airport project, Jesse Grepo, legal officer of the selection committee, told reporters.
The $10 billion project, which involves land reclamation and expansion of an existing small airport, is part of the go nment's major infrastructure overhaul plan that go nment has been criticised for stalling on.
It is one of two proposed multi-billion dollar airport projects that aim to decongest the country's main gateway in Manila, which has been rated as one of the world's worst airports.
Under President Rodrigo Duterte, the Philippines has pursued warmer ties with rival China, setting aside a territorial spat in exchange for billions of pledged loans, investment and aid, most of which has yet to materialise.
Chinese state firms have won contracts this past year to enter telecommunications, energy and construction sectors.
This is the reason I changed my mind in owning a property in the Philippines
"latest move by Chinese state firms to gain a foothold in the Philippines" you mean indenture and bankrupt the Philippines?
Truth be told...A new Chinese Military installation.
Duterte will completely sell Philippines to China before he goes out of office, 300 public schoolteachers will be trained to learn Mandarin to be included in the curriculum. , ,,,Is there a need to build the Bulacan international airport when we have already Clark? Truly millions of bribe money will pass hands,,,,
The thousands of Chinese workers will come, marry local women, buy properties.
Here comes again with China SHARK's loan and Philippine will be stuck with the debt that definitely be in default. China will take the airport and use it for whatever...free, the next 99 years.
They should have bid $15 Billion to be fair, but the Chinese Government chipped in $5 Billion so they could win it with a $10 Billion bid!
It's over for the Philippines. It will become China's ally, they will use that airport if there will be a war that will break out.
The key word here is pledged. That word means nothing to the Chinese.
Not an intelligent decision to build an airport at sea level evation in a country that is hit by about 20 typhoons-a-year on reclaimed (landfill) land (liquefaction) in a country that exeperiences earthquakes!
President Trump should not sign any trade deal with China but continue to keep pressure on China by imposing heavy tariffs on China goods exported to America.
Why are they even bothering to build an airport on a island. According to Greta in 10 years it'll all be under water. A waste of $10 billion.
10 billion for an airport? Hell I thought the new one their building here by Kansas city at 1.3b was astronomical.
This project would not likely be funded by someone based on risk/reward
The Chinese will cut corners to save a buck or two. . that's the Chinese culture! I hope it will be earthquake proof! LoL With all repeated quakes that the Philippines is experiencing, it should be a lesson learned . . waiting for the BIG one!!
Yep Philippine president Duarte sold his country for his owned profit while his people suffering on poverty. A fact believes me.
They will probably devote about 6-7 billion and pocket the rest whilst passing fat bonuses amongst friends
他们可能会投入大约60 - 70亿美元，然后把剩下的钱装进口袋，同时把丰厚的奖金分给朋友们。
Sangley point is definitely the wrong location for an airport. For accessibility for the rest of the country Its like making the country's premier international airport on Palawan
peter4 days ago
Philippines should learn a lesson experienced by Greece and Sri Lanka. Greece had its seaport rehabilitated with money borrowed from China and then default. China took over the operation of that seaport, laid off lots of workers, replaced by Chinese workers, Sri Lanka experienced the same