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CEBU CITY – The consortium of Megawide Construction and India’s GMR Infrastructure Ltd., which operates the Cebu airport, announced Monday it has complied with the additional requirements necessary for its PHP109-billion unsolicited proposal to rehabilitate and transform the Ninoy Aquino International Airport (NAIA) into a world-class airport.
The submission of additional documents to the Manila International Airport Authority (MIAA), which includes the statement of joint and solidary liability from the Megawide-led consortium as required by the National Economic Development Authority (NEDA), meets a key milestone by the Megawide and GMR partnership towards its goal of starting the long-hoped-for rehabilitation and transformation of the NAIA complex.
“The financial documents we submitted are sufficient to exclusively support the requirements of the NAIA project. With this, we are hopeful our proposal to rehabilitate and transform NAIA into a first-world airport complex can now be elevated to the Cabinet committee for approval and proceed to Swiss challenge,” Louie Ferrer, Megawide’s managing director for transport, said in a statement disclosed to the Philippine Stock Exchange.
“Infrastructure investment is critical for our country to build back from the economic crisis caused by the Covid-19 pandemic. We at Megawide are ready to do our part by providing employment and enhancing the Philippines’ competitiveness in infrastructure, especially airports,” he added.
Last week, Megawide concluded a successful agreement with the Indian infrastructure giant, with both companies agreeing to undertake the rehabilitation and transformation of NAIA as a partnership.
Megawide will hold a controlling 60-percent interest in the partnership while GMR will retain 40 percent, ensuring solid financial capability and delivering an unparalleled global experience in airport design, construction and operations.
“Our partnership with GMR is strong. Together, we delivered the transformation of Mactan- Cebu International Airport (MCIA) and the construction of Clark International Airport (CIA). Now, we are hugely excited to deliver a first-world NAIA that uplifts the travel experience for all Filipinos and provides a critical assist to the national government’s efforts to rebuild after the pandemic,” said Edgar Saavedra, Megawide chairman and chief executive officer.
GMR is among the world’s leading and largest airport operators, and pre-pandemic managed over 100 million passengers annually, connecting 267 global cities.
In September 2020, the world’s largest airport operator, Groupe ADP (Aeroports de Paris) which manages the Parisian international airports Charles de Gaulle, Orly, and Le Bourget, acquired 49 percent of GMR.
Megawide looks forward to leveraging GMR and ADP’s global leadership and rich experience in the rehabilitation and transformation of NAIA.
“In partnership with stakeholders, we transformed MCIA as the Philippines’ first world-class airport in decades. A few months ago, we completed the new terminal at CIA, ahead of schedule and under budget. We are the only company in the Philippines with a successful track record in airport infrastructure and together with GMR, we hope to contribute our half a decade of expertise to our country’s main gateway,” Saavedra said. (PNA)
