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China-backed group loses $10bn Philippine airport project

Award cancellation boosts San Miguel's $15.4bn plan for separate project

The planned Sangley Point International Airport would take pressure off Manila's Ninoy Aquino International Airport. (Illustration courtesy of Cavite provincial government)

MANILA -- A China-backed consortium has lost the right to develop a $10 billion airport project in the Philippines, the group's local partner said on Wednesday.

MacroAsia, the Philippine partner of state-owned China Communications Construction Co., told the Philippine Stock Exchange that the Cavite provincial government had canceled the notice of award it granted to the consortium last year.

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