Tuesday, November 24, 2020

GMR-Megawide submits key docs for P109-B NAIA rehab bid

Cebu City: The consortium of Megawide Construction and India’s GMR Infrastructure Ltd., which operates the Cebu airport, announced Monday it has complied with the additional requirements necessary for its PHP109-billion unsolicited proposal to rehabilitate and transform the Ninoy Aquino International Airport (NAIA) into a world-class airport.

 The submission of additional documents to the Manila International Airport Authority (MIAA), which includes the statement of joint and solidary liability from the Megawide-led consortium as required by the National Economic Development Authority (NEDA), meets a key milestone by the Megawide and GMR partnership towards its goal of starting the long-hoped-for rehabilitation and transformation of the NAIA complex.

 “The financial documents we submitted are sufficient to exclusively support the requirements of the NAIA project. With this, we are hopeful our proposal to rehabilitate and transform NAIA into a first-world airport complex can now be elevated to the Cabinet committee for approval and proceed to Swiss challenge,” Louie Ferrer, Megawide’s managing director for transport, said in a statement disclosed to the Philippine Stock Exchange. 

 “Infrastructure investment is critical for our country to build back from the economic crisis caused by the Covid-19 pandemic. We at Megawide are ready to do our part by providing employment and enhancing the Philippines’ competitiveness in infrastructure, especially airports,” he added.

23/11/20 Carlo Lorenciana/Philippine News Agency

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