GMR-Megawide achieves financial closure for Mactan-Cebu International Airport

Financing to fund 70% of the total project cost

GMR Infrastructure announced that GMR Mactan-Cebu International Airport (GMCAC), a joint venture between GMR Infrastructure (40% shareholding) and Megawind Construction Corporation (60% shareholding) has signed financing documents of its Mactan-Cebu International Airport located in Cebu, Philippines. The financing will fund 70% of its total project cost of Php 33 million (approximately US$ 750 mn).

Total equity contribution of GMR to GMCAC will be approximately US$ 90 million, out of which GMR has already invested US$ 48 million and does not envisage any further investment in near future.

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