DOTC: 20 days to complete post-award requirements for Mactan airport rehab
MANILA, Philippines – The consortium of Filipino-owned Megawide Construction Corp and Bangalore-based GMR Airports has 20 days to complete necessary requirements before signing the contract for the expansion of the Mactan-Cebu International Airport.
Department of Transportation and Communications (DOTC) spokesperson Michael Arthur Sagcal said on Saturday, April 5, that the Megawide-GMR tandem needs to fulfill the following post-award requirements:
- complete the P14.4 billion payment to the Mactan Cebu International Airport Authority (MCIAA)
- submit an irrevocable letter of credit in the amount of P180 million
"The GMR-Megawide will now have 20 days to complete the post-award requirements. Once the requirements are satisfied, the concession agreement will be signed by the parties, paving the way for the implementation of the project over the next 3 to 4 years," Sagcal stressed.
DOTC and MCIAA awarded on Friday the 25-year concession for the Mactan international airport expansion project to the Megawide-GMR tandem, which submitted the highest bid of P14.404 billion for the project December 12 last year.
Second highest bidder Filinvest-CAI Consortium filed a disqualification case against the winning consortium for alleged conflict of interest, but the Megawide-GMR tandem had repeatedly denied the allegation.
“We firmly believe that the GMR-Megawide Consortium has the right credentials and capabilities to undertake this prestigious project and deliver a world class airport that Cebuanos and Filipinos will be proud of. We would like to reiterate that the GMR-Megawide Consortium has faithfully observed all requirements set by DOTC,” Megawide chairman and chief executive officer Michael Cosiquie said.
The modernization project intends to improve the country’s second-largest aviation hub by constructing a new international passenger terminal building and by expanding its existing passenger terminal.
It aims to transform the airport into a resort-airport facility, which will include an adjoining airport village mall complex with retail and entertainment shops. – Rappler.com