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For illustrative purposes only. Image Credit: Agency

Manila: A Philippine province is set to award a $10.9 billion airport project south of the capital Manila to a consortium led by Filipino tycoons, the provincial government said on Tuesday.

The SPIA Development Consortium is composed of Philippine firms Cavitex Holdings, House of Investments, and MacroAsia, and partners Munich Airport International Airport and South Korea’s Samsung C&T Corp.

No competing bids were submitted, the Cavite provincial government said in a document of notice to the consortium.