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)

CLIFF VENZON, Nikkei staff writer

January 27, 2021 13:52 JST

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.