Megawide, Indian firm tie up for Cebu airport bid
MANILA, Philippines - Construction and engineering firm Megawide Construction Corp. and an Indian airport developer will jointly bid for the P17.5-billion Mactan-Cebu International Airport expansion project.
Megawide told the Philippine Stock Exchange in a disclosure on Wednesday, March 6, that it signed an "understanding" with India's GMR Infrastructure Ltd. for the creation of a joint venture company in case they win the bidding.
Megawide is among the groups that purchased bid documents for the Public-Private Partnership (PPP) project.
It will compete against some of the Philippines' biggest conglomerates, including the alliances of Metro Pacific Investments Corp. and JG Summit Holdings Inc., and Ayala Corp. and Aboitiz Equity Ventures Inc.
The Cebu airport project involves the construction of a world-class passenger terminal building, with capacity of 8 million passengers a year, as well as the operation and maintenance of the old and new airport facilities.
The airport, the country’s second biggest and busiest international gateway, sits on a 797-hectare property, and has a single 3,300-meter runway complemented by a full-length taxiway.
The existing terminal building of the airport has capacity of only 4.5 million passengers annually. - Rappler.com