GMR-Megawide consortium set to win $400 mn Philippine airport contract

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SummaryThe consortium beat six others at an auction at Mactan-Cebu International Airport.

A consortium of India's GMR Infrastructure Ltd and the Philippines' Megawide Construction Corp is the likely winner of a $400 million tender to build and operate a passenger terminal at an international airport in central Philippines.

The consortium beat six others at an auction on Thursday by offering a premium of 14.4 billion pesos ($326 million) for the project at Mactan-Cebu International Airport, one of several infrastructure projects offered under a public-private partnership scheme.

The amount was higher by about 400 million pesos than that of the second-place bid from a consortium led by Filinvest Development Corp and Changi Airports Saudi Ltd.

Other consortia were led by Metro Pacific Investments Corp, San Miguel Corp, First Philippine Holdings Corp, Ayala Corp and Aboitiz Equity Ventures Inc, and SM Investments Corp.

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