• GMR-Megawide clinches Mactan-Cebu airport deal

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    Following several months of reviewing various legal questions raised by a bidder for the Mactan-Cebu International Airport project, the Department of Transportation and Communications (DOTC) and the Mactan-Cebu International Airport Authority (MCIAA) finally awarded the 25-year concession to the GMR-Megawide Consortium on Friday.

    “Amidst all the noise drummed up in different forums the past few months, the DOTC has allowed nothing but the law and the country’s interests to matter in awarding the project.

    Finally, Cebuanos will soon get the world-class airport they deserve—one that will not only boost the province’s economy and tourism industry, but the whole country’s as well,” said DOTC spokesperson Michael Arthur Sagcal.

    “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 on Daang Matuwid by delivering our services to the people,” Sagcal added.

    In the bidding conducted in November last year, the GMR-Megawide Consortium proposed to undertake the project, which entails renovating the existing passenger terminal building, building a new one to service international flights, and operating the airport, at a premium of P14.4 billion. This offer bested those of six other groups.

    GMR-Megawide will now have 20 days to complete the post-award requirements, such as the sub–mission of an irrevocable letter of credit in the amount of P180 million and the payment of the premium amount to government through the MCIAA. Once the requirements are satisfied, the concession agreement will be signed by the parties, paving the way for the implementation of the project over the next three to four years.

    PNA

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