P20B terminal operational in 2017, says contractor-A A +A
Tuesday, May 6, 2014
THE GMR-Megawide Cebu Airport Corp. yesterday said they will start constructing a new Mactan Airport terminal building will cost P17 billion to P20 billion and will be operational by 2017.
Speaking before the 888 News Forum, Andrew Harrison, GMR deputy chief executive officer, said this means the initial investment of the GMR-Megawide joint venture for the airport services modernization will be not less than P30 billion.
There will be additional investment on the cost of the re-development of the existing terminal or Terminal 1.
GMR-Megawide paid P14.4 billion to Mactan-Cebu International Airport Authority (MCIAA) as concession fee, and all the improvements of the airport to make it world-class are still at the expense of the company.
There were seven bidders for the project.
“The reason why we submitted a high bid is a demonstration of the confidence we have in the airport and the economy and its future potential for growth,” Harrison said.
He said GMR-Megawide will work hand-in-hand with MCIAA to ensure that the airport meets the demand.
He said an airport system has three components. The first is the airspace capacity, such as the number of aircrafts the airspace accommodate.
The second is the terminal capacity. The third is the service access capacity, or the roads.
“There’s no point in having an airport for 20 million if the roads can only deliver 10 million passengers per annum. So, we have to work with the local government authorities and the agencies to ensure that the airspace, the terminal and the service access roads from and to the airport can meet the demand as the airport grows,” Harrison said.
He said the design of the airport terminal is modular, which means they can expand it with minimum disruption of traffic.
“And the main point is this: for every peso that we invest, there would be a return because if we are investing it means there’s growth. If there is growth, it means the economy is prospering. If the economy is prospering, it means we have returns on our investment,” Harrison said.
He said that to recover the investment faster, they will help the government promote tourism.
Published in the Sun.Star Cebu newspaper on May 07, 2014.