GMR-Megawide consortium awarded Mactan-Cebu Airport project

Bangalore, 5 April-2014,Raghuvir Badrinath(BS):The Department of Transportation and Communications (DOTC), Republic of the Philippines has formally awarded the Mactan-Cebu International Airport’s rehabilitation, expansion and operation project to the GMR-Megawide Consortium for a 25-year concession period.

GMR-Megawide consortium awarded Mactan-Cebu Airport project

The departure hall of Mactan Cebu Internationa...

The departure hall of Mactan Cebu International Airport on Mactan Island. (Photo credit: Wikipedia)

In the international competitive bidding process GMR-Megawide Consortium had emerged as the highest bidder after offering a bid premium of 14.4 billion Philippine Pesos (approximately $320 million).

Commenting on the award, G M Rao, Chairman, GMR Infrastructure Ltd said: “We are delighted to be awarded the Mactan-Cebu International Airport project. We firmly believe that GMR-Megawide Consortium has the right credentials and capabilities to undertake this prestigious project and deliver an airport that Cebuanos and Filipinos will be proud of.”

GMR-Megawide Consortium plans to develop the Mactan-Cebu International Airport into a regional hub in the Philippines, creating passenger and cargo traffic growth, jobs for local community, giving a boost to the tourism traffic and creating multiplier economic benefits for the region.

GMR had bid for the Mactan-Cebu airport project with Megawide Construction Corporation, one of Philippine’s leading construction firms listed on the Philippine Stock Exchange.

Posted by on April 5, 2014. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.