MANILA: A Philippine province has canceled its granting of an airport deal worth $ 10 billion south of the capital, among the largest projects involving a Chinese company under President Rodrigo Duterte, who has sought to strengthen ties with Beijing since taking office in 2016.
China Communications Construction Co (CCCC) and the Philippines’ MacroAsia Corp. won the auction in 2019 to partner with the Cavite County government to modernize Sangli Airport.
“The notice of selection and award of the Sangli Point International Airport project issued on February 12, 2020 has been canceled,” Macro Asia told the stock exchange.
Cavite Governor Juanito Victor Ramola told Reuters that the consortium documents “are missing three or four elements.”
“We saw this as a sign that they were not fully committed to the project,” said Ramola.
He said in a Facebook post that the Cavite government will start new negotiations on a private sector partner to pursue the airport project.
In December 2019, the CCCC-MacroAsia consortium was the only bidder for a $ 10 billion airport just outside the capital, one of two major projects aimed at relieving pressure on the four terminals of the busy international airport in Manila.
CCCC was among the Chinese companies blacklisted by the United States in August for its role in building and militarizing artificial islands in the South China Sea.
Ramola said the blacklist had nothing to do with the cancellation.
The Chinese CCCC could not be reached for comment.
MacroAsia shares are down as much as 19% to a three-month low in the first 10 minutes of trading after the cancellation.