New Delhi/Mumbai: A consortium led by the Bangalore-based GMR group, which won the bid for the Mactan Cebu international airport project in the Philippines, faces a petition in that country's Supreme Court to scrap the deal.
Serge R Osmeña III, a prominent Philippine politician, said in his petition filed in court two days before last week's announcement that the GMR group violated bid conditions that barred companies with a conflict of interest from bidding. He has asked the court to stop the notice of award to GMR and its local consortium partner, Megawide.
The consortium bid $325 million to renovate, modernise and expand the Mactan Cebu airport and operate it for 25 years. It outbid seven global competitors, many of which had earlier raised questions about GMR.
The conflict of interest arises because Malaysia Airport Holdings Berhad, which separately bid for the Mactan Cebu project, is also a stakeholder in GMR's airports in Delhi and Hyderabad. Tan Bashir Ahmad, apart from being managing director of Malaysia Airport Holdings, is also on the boards of directors of the two GMR airport companies.
09/04/14 Surajeet Das Gupta & Aneesh Phadnis/Business Standard
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Serge R Osmeña III, a prominent Philippine politician, said in his petition filed in court two days before last week's announcement that the GMR group violated bid conditions that barred companies with a conflict of interest from bidding. He has asked the court to stop the notice of award to GMR and its local consortium partner, Megawide.
The consortium bid $325 million to renovate, modernise and expand the Mactan Cebu airport and operate it for 25 years. It outbid seven global competitors, many of which had earlier raised questions about GMR.
The conflict of interest arises because Malaysia Airport Holdings Berhad, which separately bid for the Mactan Cebu project, is also a stakeholder in GMR's airports in Delhi and Hyderabad. Tan Bashir Ahmad, apart from being managing director of Malaysia Airport Holdings, is also on the boards of directors of the two GMR airport companies.
09/04/14 Surajeet Das Gupta & Aneesh Phadnis/Business Standard
