GMR Infrastructure and contractor Megawide Construction Corp are the likely winners of a $400 million airport terminal tender, the biggest so far under the Philippines' public-private partnership programme.
The consortium beat six others including the country's top conglomerates at an auction on Thursday, offering a premium of 14.4 billion pesos for the 25-year concession to operate central Philippines' Mactan-Cebu International Airport - the country's second-biggest - and build one of its terminals.
The project is a test of the government's resolve to boost economic growth through public-private partnerships (PPP) in infrastructure, following delays in previous high-profile tenders that have raised doubts about the scheme's effectiveness.
The Megawide-led offer was about 400 million pesos above the second-place bid from a group led by property-to-banking firm Filinvest Development Corp and Changi Airports Saudi Ltd. The winning bidder will likely be announced in early January.
Megawide, with a market cap of $428 million, has won three out of five contracts - valued at around 26 billion pesos - tendered by the government under the three-year-old PPP scheme.
12/12/13 Business World
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The consortium beat six others including the country's top conglomerates at an auction on Thursday, offering a premium of 14.4 billion pesos for the 25-year concession to operate central Philippines' Mactan-Cebu International Airport - the country's second-biggest - and build one of its terminals.
The project is a test of the government's resolve to boost economic growth through public-private partnerships (PPP) in infrastructure, following delays in previous high-profile tenders that have raised doubts about the scheme's effectiveness.
The Megawide-led offer was about 400 million pesos above the second-place bid from a group led by property-to-banking firm Filinvest Development Corp and Changi Airports Saudi Ltd. The winning bidder will likely be announced in early January.
Megawide, with a market cap of $428 million, has won three out of five contracts - valued at around 26 billion pesos - tendered by the government under the three-year-old PPP scheme.
12/12/13 Business World
