The GMR–Megawide consortium has been awarded the Mactan-Cebu Airport project development and operation by the Department of Transportation and Communications of the Philippines.

The mandate is to expand and operate the Mactan-Cebu International Airport for a 25-year concession period.

In the international competitive bidding process the GMR-Megawide Consortium emerged the highest bidder after offering a bid premium of 14.4 billion Philippine pesos (approximately $320 million).

G.M. Rao, Chairman, GMR Infrastructure Ltd said: “We firmly believe that the GMR-Megawide Consortium has the right credentials and capabilities to undertake this prestigious project and deliver an airport that Cebuanos and Filipinos will be proud of.”

GMR Infrastructure and Megawide Construction will combine their expertise and track record to transform the Mactan-Cebu International Airport into a world-class facility.

Rao further added: “GMR has redefined the standards and quality of infrastructure, services and customer deliverables at key airports such as New Delhi, Hyderabad and Istanbul Sabiha Gocken. We have vast experience across the entire spectrum of airport development and operations. We believe that our strategic plan for Mactan Cebu Airport will result in the delivery of an efficient, passenger-oriented and commercially sustainable airport. We believe in inclusive growth and will contribute significantly towards the social and economic development of Cebu.”

GMR-Megawide Consortium plans to develop the Mactan-Cebu International Airport into a regional hub in the Philippines, creating passenger and cargo traffic growth, jobs for local community, giving a boost to the tourism traffic and creating multiplier economic benefits for the region.

GMR had bid for the Mactan-Cebu airport project with Megawide Construction Corporation, one of the Philippine’s leading construction firms listed on the Philippine Stock Exchange since 2011.

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