GMR-Megawide Team to Bid for USD 2.4 bn Manila Airports Deal

Published: 14th July 2015 06:46 AM  |   Last Updated: 14th July 2015 06:46 AM   |  A+A-

HYDERABAD:  The GMR-Megawide consortium is bidding for the $2.4 billion contract to operate five airports in the Philippines under the PPP (public, private partnership) model.

As many as six companies have evinced interest so far, according to a statement issued by the Philippines government.

gmr.JPG“These PPP projects involve development, operations and maintenance of the five regional airports,” it said adding that the private partner would provide necessary improvements to the airport to enhance passenger safety, security and access.

The five regional airports in the Philippines currently being offered under PPP mode are Bacolod-ilay, Iloilo (Bundle 1), Davao, Laguindingan and New Bohol (Panglao) (Bundle 2).

The other prospective bidders who bid for the five airports are Metro-Pacific-JG Summit Consortium, Aboitiz Equity Ventures, Miguel Corp, Philippine Skylanders Inc and Union Equities.

“These PPP projects involve development, operations and these airports involve an estimated total cost of Php 108.19 billion ($2.40 billion), the statement said.

Besides, it would have to bring in efficiency in passenger and cargo movement, operations as well as actively market the airports in order to develop direct international passenger traffic.

GMR-Megawide currently runs Mactan Cebu International Airport (MCIA) in the Philippines.

MCIA was the first airport in the Philippines to be privatised under the administration’s ambitious PPP programme aimed at modernising key infrastructure assets.

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 $305 million) for the airport.

The formal award of the project in April, 2014 was followed by a six-month transition period to complete project formalities leading to the transfer of operations to GMR-Megawide on November 1, 2014.

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