MANILA, Philippines – SM Investments Corporation said it is not planning to participate in the Sangley Airport development project.

SM Investments disclosed this to the Philippine Stock Exchange on Wednesday, October 30, contradicting what Cavite Governor Jonvic Remulla said on Tuesday, October 29.

Remulla said that at least 5 companies, including SM Investments, and China Communications Construction Company, have set their sights on the expansion of the Sangley Airport to the tune of at least $10 billion.

The other companies Remulla mentioned also reacted to the news.

Metro Pacific Investments Corporation. The Pangilinan-led conglomerate said that it is part of the consortium trying to reach an agreement with the government on the rehabilitation and further improvement of the Ninoy Aquino International Airport.

“In this context, all airport projects serving the greater National Capital Region including Sangley Airport are of interest,” it said.

Ayala Corporation. It said that its real estate subsidiary, Ayala Land, “has made general inquiries with the Cavite local government regarding the project.”

DM Consunji Incorporated. The holdings firm said DMCI was invited to attend a pre-bid conference for the Sangley Airport. However, it is still evaluating the project and has not yet secured bid documents.

Remulla also told Rappler that All-Asia Resources and Reclamation Corporation has submitted its own proposal.

The groundbreaking for the airport is set for January 2020. Up to 100 million passengers can be serviced once it is completed. – Rappler.com