PHILIPPINES. A consortium between Indian infrastructure group GMR and Filipino construction company Megawide has been awarded the 25-year concession to develop Mactan Cebu Airport.
The company offered the highest bid for the contract in December, offering a PHP14.4 billion (US$322.80 million) premium on top of the estimated PHP17.5 billion (US$392.29 million) project cost. But the award was delayed while second-placed bidder Filinvest-Changi Airports Mena challenged the consortium’s eligibility.
As reported, Duty Free Philippines’ assertion of its exclusive rights to operate duty free at the privatised airport has been upheld by several government departments.
 |
The consortium will renovate the passenger terminal at the country’s second-biggest airport, which handled 7 million passengers last year – far exceeding its original capacity of 4.5 million passengers.
GMR said it would be making an equity investment of US$35-40 million over the next three years as it aims to raise annual passenger capacity to 14 million in the next three or four years.
Among the developments will be a new terminal dedicated to international flights.
