Bangalore: GMR-Megawide Cebu Airport Corporation (GMCAC) a joint venture between GMR Group and Megawide Construction Corporation, a construction firm in Philippines, has taken full operational control of the Mactan Cebu International Airport (MCIA) in Cebu, Philippines.
MCIA is the country's first airport to be privatised under the administration's ambitious PPP programme aimed at modernising key infrastructure assets.
GMR-Megawide Consortium had emerged as the highest bidder in the international competitive bidding process 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.
31/10/14 Business Standard
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MCIA is the country's first airport to be privatised under the administration's ambitious PPP programme aimed at modernising key infrastructure assets.
GMR-Megawide Consortium had emerged as the highest bidder in the international competitive bidding process 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.
31/10/14 Business Standard
