GMR, partner highest bidder for Philippines airport development
13 Dec 2013 11:55 PM GMT
‘We submitted the bid earlier. The Philippines authority opened the bids and ours is the highest one. However, they are yet to officially communicate to us,’ a GMR official said.
Megawide Construction Corporation is a publicly-listed construction firm in the Philippines. The project involves construction of a passenger terminal building with a capacity of eight million passengers per year, as per the bidding document. It also envisages renovation and expansion of the old facilities, installation of required equipment and operation of both the old and new facilities.
The successful bidder would get a 20-year concession contract to operate the project, to be developed in two phases at an estimated cost of 17.5 billion peso (the currency of the Philippines).
There were seven bidders for the project. Mactan-Cebu International Airport is the second largest airport in the Philippines after Manila International Airport and had handled more than 6.2 million domestic and international passengers in 2011.
The Philippines government intends to develop the airport since passenger traffic has grown by an unprecedented rate of 13 per cent for the last 10 years.
GMR Infrastructure operates two airports in India — Delhi International Airport and Hyderabad International Airport — and Istanbul Sabiha Gokcen International Airport (ISGIA) at Istanbul in Turkey. Last year, GMR, which has presence in roads, power and airports sectors, had to make an unceremonious exit from Male International Airport after that government cancelled its concession agreement.
Megawide Construction Corporation is a publicly-listed construction firm in the Philippines. The project involves construction of a passenger terminal building with a capacity of eight million passengers per year, as per the bidding document. It also envisages renovation and expansion of the old facilities, installation of required equipment and operation of both the old and new facilities.
The successful bidder would get a 20-year concession contract to operate the project, to be developed in two phases at an estimated cost of 17.5 billion peso (the currency of the Philippines).
There were seven bidders for the project. Mactan-Cebu International Airport is the second largest airport in the Philippines after Manila International Airport and had handled more than 6.2 million domestic and international passengers in 2011.
The Philippines government intends to develop the airport since passenger traffic has grown by an unprecedented rate of 13 per cent for the last 10 years.
GMR Infrastructure operates two airports in India — Delhi International Airport and Hyderabad International Airport — and Istanbul Sabiha Gokcen International Airport (ISGIA) at Istanbul in Turkey. Last year, GMR, which has presence in roads, power and airports sectors, had to make an unceremonious exit from Male International Airport after that government cancelled its concession agreement.
Next Story
