CLARK FREEPORT – A group of influential Malaysian investors has offered to infuse at least $150 million in direct investments for the expansion of the Diosdado Macapagal Inter-national Airport’s (DMIA) passenger terminal here.
Bristeel Overseas Ventures Inc., (BOV), a group made up of publicly listed conglomerates based in Malaysia, said it is willing to enter into a joint venture agreement with the Clark International Airport Corporation (CIAC) for the development and expansion of the DMIA Terminal 1 with a passenger capacity of seven million annually.
“We believe that the expansion of the airport’s terminal is now urgently needed to lure in the entry of more international airlines and boost the position of DMIA as the next major gateway of the Philippines,” said William Chee, authorized representative of BOV.
He added that they have been studying the project for more than a year now.
Chee also revealed that BOV will be composed of Malaysia’s construction giants with extensive experience in multi-billion dollar infrastructure projects, including airports and railways in different countries around the world.
Among BOV’s consortium members are Malaysia Resources Corporation Bhd. (MRCB) and Malaysia Airports Holdings Bhd. (MAHB).
MRCB is one of the largest property development and investment companies in Malaysia with interests in residential, tourism, commercial, industrial and multi-modal transportation hubs and projects worldwide.
MRCB is also renowned for its award winning landmark project, Kuala Lumpur Sentral (KL Sentral) – a “city within a city” built around Malaysia’s largest transit hub. It offers global connectivity, excellent investment opportunities, business convenience and international lifestyle.
“We recognize that one of the priority programs of the Philippine government is to attract foreign direct investments into the Philippines. This project is in direct response to that policy and an expansion of our confidence in the Philippine economy,” Chee said.
On the other hand, MAHB is a wholly-owned government firm mandated to develop, operate and manage all airport facilities in Malaysia including the newly built $3.5-million Kuala Lumpur International Airport (KLIA) in a sprawling 10,000 hectare complex in Sepang district.
It has developed more than 70 domestic and international airports both in Malaysia and in other countries around the world.
Chee said their firm is willing to invest and fund the upgrading of the DMIA airport including expansion of its aircraft ramp areas, development of access road networks and vehicle parking facilities, and procurement and installation of vital airport equipment and navigational aids systems.
“We will provide all the funding requirement, but we are even willing into a management agreement with CIAC that will allow it virtually to continue to operate and manage the passenger terminal facility to avoid dislocation of its employees,” he added.
He said his group is confident of completing the DMIA project within two years from the approval of its proposal by the Philippine government.
CIAC is the operating arm of DMIA inside Clark Freeport Zone. DMIA is host to several foreign budget carriers including local carriers flying out of Clark. Among them is Tiger Airways of Singapore, Air Asia of Malaysia, Asiana Airlines of Korea and local carriers such as Cebu Pacific Air, South East Asian Airlines (Seair) and Spirit of Manila Airlines.
Bristeel Overseas Ventures Inc., (BOV), a group made up of publicly listed conglomerates based in Malaysia, said it is willing to enter into a joint venture agreement with the Clark International Airport Corporation (CIAC) for the development and expansion of the DMIA Terminal 1 with a passenger capacity of seven million annually.
“We believe that the expansion of the airport’s terminal is now urgently needed to lure in the entry of more international airlines and boost the position of DMIA as the next major gateway of the Philippines,” said William Chee, authorized representative of BOV.
He added that they have been studying the project for more than a year now.
Chee also revealed that BOV will be composed of Malaysia’s construction giants with extensive experience in multi-billion dollar infrastructure projects, including airports and railways in different countries around the world.
Among BOV’s consortium members are Malaysia Resources Corporation Bhd. (MRCB) and Malaysia Airports Holdings Bhd. (MAHB).
MRCB is one of the largest property development and investment companies in Malaysia with interests in residential, tourism, commercial, industrial and multi-modal transportation hubs and projects worldwide.
MRCB is also renowned for its award winning landmark project, Kuala Lumpur Sentral (KL Sentral) – a “city within a city” built around Malaysia’s largest transit hub. It offers global connectivity, excellent investment opportunities, business convenience and international lifestyle.
“We recognize that one of the priority programs of the Philippine government is to attract foreign direct investments into the Philippines. This project is in direct response to that policy and an expansion of our confidence in the Philippine economy,” Chee said.
On the other hand, MAHB is a wholly-owned government firm mandated to develop, operate and manage all airport facilities in Malaysia including the newly built $3.5-million Kuala Lumpur International Airport (KLIA) in a sprawling 10,000 hectare complex in Sepang district.
It has developed more than 70 domestic and international airports both in Malaysia and in other countries around the world.
Chee said their firm is willing to invest and fund the upgrading of the DMIA airport including expansion of its aircraft ramp areas, development of access road networks and vehicle parking facilities, and procurement and installation of vital airport equipment and navigational aids systems.
“We will provide all the funding requirement, but we are even willing into a management agreement with CIAC that will allow it virtually to continue to operate and manage the passenger terminal facility to avoid dislocation of its employees,” he added.
He said his group is confident of completing the DMIA project within two years from the approval of its proposal by the Philippine government.
CIAC is the operating arm of DMIA inside Clark Freeport Zone. DMIA is host to several foreign budget carriers including local carriers flying out of Clark. Among them is Tiger Airways of Singapore, Air Asia of Malaysia, Asiana Airlines of Korea and local carriers such as Cebu Pacific Air, South East Asian Airlines (Seair) and Spirit of Manila Airlines.
