GMR is interested in building and operating the Cavite airport in partnership with Cavitex Holdings Inc., as it also explores opportunities involving regional airports and logistics facilities in the country.
The company's expansion plans were discussed during a Sept. 12 meeting with President Ferdinand Marcos Jr. and Cabinet officials in New Delhi.
Sangley opportunity
The proposed Sangley Point International Airport is projected to generate more than P150 billion in direct investment and P500 billion in indirect economic impact.
Envisioned as a new international gateway for the Greater Capital Region, the airport is expected to help ease congestion at Ninoy Aquino International Airport and support the continued expansion of passenger and cargo traffic.
The project could also generate between $300 million and $500 million in government revenues and create 10,000 to 15,000 jobs, according to the Philippine government.
Trade Secretary Cristina A. Roque welcomed GMR's continued interest in investing in Philippine aviation infrastructure.
Since 2014, GMR has invested more than P36 billion in airport infrastructure in Cebu and Clark, establishing a track record that the group now seeks to build on through additional projects.
Beyond Sangley
The Indian infrastructure group is also exploring opportunities to upgrade regional airport clusters in Bacolod, Tacloban, Busuanga and Laoag.
These investments could expand aviation capacity outside the country's main urban centers while supporting tourism, local trade and regional economic development.
At Clark, GMR is pursuing further opportunities that include bids for logistics facilities designed to serve global cargo operators.
The prospective investments come as the government seeks to tap more private-sector capital and expertise to modernize transport infrastructure under its Build Better More program.
Finance Secretary Frederick D. Go said continued investments in aviation infrastructure would help increase the country's capacity for economic growth and create more opportunities.
Government support
The government assured GMR that it would facilitate qualified projects through investment measures that include the Green Lane for Strategic Investments under Executive Order No. 18.
Qualified investments may also access fiscal incentives under the CREATE MORE Act.
The Department of Trade and Industry said it was prepared to serve as the focal point for facilitating GMR's proposed investments and coordinating with other government agencies.
GMR Group chair Srinivas Bommidala represented the company during the meeting.
Also present were Finance Secretary Go, Trade Secretary Roque, Interior Secretary Jonvic Remulla, Transportation Secretary Giovanni Z. Lopez, Philippine Ambassador to India Josel Francisco Ignacio and Cavitex Holdings chair Luis Juan Virata. —Ed: Corrie S. Narisma
