THE Philippine Competition Commission has approved the proposed joint venture between the Cavite provincial government and the consortium formed by Cavitex Holdings Inc. and House of Investments Inc. for the development of the Sangley Point International Airport (SPIA).
In its decision, the Commission determined that the proposed transaction, which involves a public-private partnership project that will be implemented through a joint venture development agreement, is unlikely to result in a substantial lessening, restriction, or prevention of competition in the relevant market.
The entities involved will develop, own, operate, manage, and maintain the SPIA in Cavite City, which is intended to alleviate congestion at the Ninoy Aquino International Airport. / PR