MANILA, Philippines – Henry Sy-led SM Investments Corp. (SMIC), one of the companies seeking to bid for the P17.5-billion Mactan-Cebu International Airport expansion, is only interested in the retail aspect of the project.
SMIC leads the consortium The Premium Airport Group, which has just submitted documents to pre-qualify for the bidding.
SMIC CFO Jose Sio said that if they qualified and won, SMIC would only be developing the retail component of the Public-Private Partnership project.
Its partners would take care of other aspects, such as the building of an airport terminal and the operation of the airport, he added.
“We are just there because we see opportunities in the retail. Our expertise is on retail, we don’t know construction, etc,” he told reporters following SMIC’s annual stockholders’ meeting on Thursday, April 25.
The airport project involves the construction of a terminal capable of holding 8 million passengers a year, according to a PPP Center briefing paper. The plan also provides for the maintenance of old and new facilities.
SMIC’s partners in the consortium include Citadel Holdings Inc., Zurich Airport International AG, and Prospector Investment Holdings Inc., SM Prime Holdings Inc., DM Consunji Inc., and Flughafen Zurich AG.
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