Ayala, Aboitiz team up with US firm for Cebu airport bid
MANILA, Philippines - Ayala Corp. and Aboitiz Equity Ventures are teaming up with a US-based company to bid for the P10-billion international airport passenger terminal project in Mactan,Cebu.
Ayala and AEV, through its unit Aboitiz Land, signed a memorandum of understanding with ADC & HAS Airports Inc. to form a consortium that will participate in the public bidding for the Cebu airport project.
The project involves the construction, rehabilitation and operation of the Mactan-Cebu International Airport Passenger Terminal under the government's public private partnership program.
The US-based ADC & HAS is described as a multinational company engaged in investment, development and operation of airports all over the world.
"With its proven track record of successful airport operations, it is expected to provide strategic, operational strength and technical resources of The Houston Airport System and the airport privatization and development experience of Airport Development Corporation to the Aboitiz Group and its partner, Ayala Corporation," Aboitiz said, in a disclosure.
HAS operates airports in the US that handle a combined 50 million passengers every year.
Last September, Ayala and AEV signed a memorandum of agreement to form a 50-50 joint-venture company that will serve as the vehicle to bid for the Cebu project.
The Ayala-Aboitiz consortium is set to go up against Metro Pacific Investments Corp. and San Miguel Corp., who are also planning to join the bidding for the Cebu airport project.
SMC president Ramon S. Ang had earlier said the conglomerate will make a bid for the P10-billion airport project.