Philippines awards Cebu airport deal to Indian group
India’s GMR Infrastructure Ltd and its Philippine consortium partner Megawide Construction Corp have been awarded a 25-year concession contract for the development of the Mactan-Cebu International Airport, three months after their bid of $320 million emerged to be the highest bid beating six other competing bidders.
The total construction cost for the project is an additional $380 million, taking the total investment for the project to $700 approximately, a GMR spokesperson said.
The awarding of the contract was held up for three months as rivals alleged conflict of interest issue against the GMR-Megawide consortium.
“Amidst all the noise drummed up in different forums the past few months the Department of Transportation and Communication (DOTC) has allowed nothing but the law and the country’s interests to matter in awarding the project,” said the Philippines DOTC spokesperson Michael Arthur Sagcal in a statement.
“This project should have been done at least a decade ago, so there is no more time to waste. We have resolved all issues, we are ready to defend our decision and it is now time to push forward,” Sagcal added.
The announcement on April 5 was a formal awarding of the contract to the GMR-Megawide consortium. The consortium had already emerged as the highest bidder when the bids were opened on December 12, 2013.
India's GMR Infrastructure Ltd and its Philippine consortium partner Megawide Construction Corp have been awarded a 25-year concession contract for the development of the Mactan-Cebu International Airport, three months after their bid of $320 million emerged to be the highest bid beating six other competing bidders. The total construction cost for the project is an additional $380 million, taking the total investment for the project to $700 approximately, a GMR spokesperson said. The awarding of the contract was held up for three months as rivals alleged conflict of interest issue against the GMR-Megawide consortium. "Amidst all the noise drummed up...
India’s GMR Infrastructure Ltd and its Philippine consortium partner Megawide Construction Corp have been awarded a 25-year concession contract for the development of the Mactan-Cebu International Airport, three months after their bid of $320 million emerged to be the highest bid beating six other competing bidders.
The total construction cost for the project is an additional $380 million, taking the total investment for the project to $700 approximately, a GMR spokesperson said.
The awarding of the contract was held up for three months as rivals alleged conflict of interest issue against the GMR-Megawide consortium.
“Amidst all the noise drummed up in different forums the past few months the Department of Transportation and Communication (DOTC) has allowed nothing but the law and the country’s interests to matter in awarding the project,” said the Philippines DOTC spokesperson Michael Arthur Sagcal in a statement.
“This project should have been done at least a decade ago, so there is no more time to waste. We have resolved all issues, we are ready to defend our decision and it is now time to push forward,” Sagcal added.
The announcement on April 5 was a formal awarding of the contract to the GMR-Megawide consortium. The consortium had already emerged as the highest bidder when the bids were opened on December 12, 2013.
