GMR takes control of airport in Philippines

Mactan Cebu International Airport is the country's first to be privatised under a PPP plan aimed at modernising key infra assets

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.

Alongside, GMCAC will lay adequate emphasis on corporate social responsibility and work towards socioeconomic development in the surrounding region.

GMR-Megawide Consortium plans to develop the Mactan-Cebu International Airport into a regional hub in the Philippines, creating passenger and cargo traffic growth, jobs for local community, giving a boost to the tourism traffic and creating multiplier economic benefits for the region.