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.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp