GMR Infrastructure, the infrastructure holding company of GMR group, announced that The Department of Transportation and Communication (DOTC), Republic of the Philippines has formally awarded the Mactan-Cebu International Airport rehabilitation, expansion and operation project to the GMR-Megawide Consortium for a 25 years concession period.
In the international competitive bidding process GMR-Megawide Consortium had emerged as the highest bidder after offering bid premium of 14.4 billion Philippines Pesos (approximately USD 320 million).
Commenting on the award, G M Rao, chairman, GMR Infrastructure said, ''We are delighted to be awarded the Mactan-Cebu International Airport project. We firmly believe that 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 a very efficient, passenger-oriented and commercially sustainable airport. We believe in inclusive growth and through Foundation we will contribute significantly towards the social and economic development of the Cebu."
