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GMR-Megawide secures contract for Philippines airport project

Saturday, 05 Apr 2014

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GMR Infrastructure and its Filipino partner Megawide Construction Corporation have secured a contract to develop an international airport in Cebu, Philippines.

An order has been awarded by the Department of Transportation and Communications (DOTC). Scope of the work involves construction of a passenger terminal building with a capacity of eight million passengers annually. The scope also envisages renovation and expansion of the old facilities, installation of the required equipment, and operation of both, the old and new facilities.

The project is estimated to cost Peso 17.5 billion (approx Rs 2,339.04 crore).

DOTC awarded the bid after a three month delay, due to issues raised by the second-closest bidder Filinvest Development Corporation over the financial capability of GMR. Filinvest, which sought the disqualification of Megawide-GMR, also alleged there was a violation of the conflict of interest provision.