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GMR-Megawide Cebu Airport Corporation (GMCAC) a joint venture between GMR Group and Megawide Construction Corporation has taken full operational control of the Mactan Cebu International Airport (MCIA), Philippines.
This marks a key milestone for GMCAC in its journey to transform MCIA into a world class airport. This is also an important landmark for Philippines as the MCIA is the country’s first airport 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. The formal award of the project in April was followed by a six-month transition period to complete project formalities leading to the transfer of operations to GMCAC.
As part of the overall master plan, GMCAC will build a brand new terminal building within three years to cater to the growing traffic. At the same time, the immediate priority will be to upgrade the existing terminal and enhance operating systems and processes to improve service quality and efficiency.
Alongside, GMCAC will lay adequate emphasis on corporate social responsibility and work towards socio-economic development in the surrounding region.
G.M. Rao, Chairman, GMR Infrastructure Ltd said: “The takeover of operations of Mactan Cebu International Airport marks the beginning of a new chapter for GMR Group’s airports business. We have proven credentials in airport operations and modernisation and we are confident that we will undertake this prestigious project in a timely manner and deliver an airport that Cebuanos and Filipinos will be proud of.”
Rao further added: “GMR has proven track record for the standards and quality of infrastructure, services and customer deliverables at key airports such as New Delhi, Hyderabad and Istanbul Sabiha Gocken. We have the requisite experience across the entire spectrum of airport development and operations. We believe that our strategic plan for MCIA will result in the delivery of an efficient, passenger-oriented and commercially sustainable airport. We believe in inclusive growth and through Foundation we will also contribute towards the social and economic development of the Cebu province”.
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