Megawide-GMR to bid for Philippines airport project
Hyderabad: Philippines-based Megawide Construction Corp has said it has reached an understanding with infrastructure developer GMR Group to bid for the development of Mactan-Cebu International Airport (MCIA) in the southeast Asian country. According to a recent filing by Megawide with the Philippines Stock Exchange, the tie-up between both the companies will come through only when the airport contract is awarded to them.
Megawide was one of the 11 firms that bought bid documents for the MCIA project, which has the second largest traffic in the Philippines. "Megawide, together with GMR Infrastructure Ltd, a leading infrastructure and airport developer from India, will participate in the bidding for Mactan-Cebu International Airport project," a statement from Megawide said.
When contacted, a GMR official said it was premature to comment on the issue. MCIA handles 6.2 million passengers despite the design capacity of the existing terminal at 4.5 million passengers. The Philippines government feels that MCIA needs to expand the airport, especially since passenger traffic has grown by an unprecedented rate of 13 per cent for the last 10 years.