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 P109 billion unsolicited proposal to rehabilitate and transform the Ninoy Aquino International Airport (NAIA), the country’s largest and busiest international airport.
The submission of additional documents to the Manila International Airport Authority (MIAA), which includes the statement of joint 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 Monday.
“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.
Last week, Megawide concluded a successful agreement with the Indian infrastructure giant, with both companies agreeing to undertake the rehabilitation and transformation of NAIA as a partnership.
Megawide will hold a controlling 60 percent interest in the partnership while GMR will retain 40 percent, ensuring solid financial capability and delivering unparalleled global experience in airport design, construction and operations.
“Our partnership with GMR is strong. Together, we delivered the transformation of Mactan-Cebu International Airport (MCIA) and the construction of Clark International Airport (CIA). Now, we are hugely excited to deliver a first-world NAIA that uplifts the travel experience for all Filipinos and provides a critical assist to the national government’s efforts to rebuild after the pandemic,” said Edgar Saavedra, Megawide chairman and CEO.
GMR is among the world’s leading and largest airport operators, and pre-pandemic managed over 100 million passengers annually, connecting 267 global cities.
Airport innovator
MCIA, the Philippines’ first resort-airport, has achieved global renown. Among the accolades it has received since Megawide and GMR started operation include “Asia Pacific Medium Airport of the Year” from the CAPA Center for Aviation; “Commendation for Airline Marketing” from RoutesAsia; and “Winner of the World Architecture Festival’s Completed Buildings – Transport Category” at the World Architecture Festival. The latter award was especially noteworthy, as MCIA beat Singapore Changi Airport’s Jewel and the new Hong Kong West Kowloon Station, among other international entries.
“From Cebu, to Clark, and now Metro Manila, we seek not just to elevate airports facilities or the dignity of passenger experience, but also to develop a true Philippine airport industry, managed and run by the best Filipino employees, setting both local and global standards. We at Megawide are committed to engineering a First-World Philippines, and the transformation of NAIA will be an achievement our country will be proud of,” Saavedra noted.
“This project will deliver untold economic benefits right when the country needs it, and ensure employment for NAIA’s thousands of direct and indirect workers – and more. Now is the best time to get this project off the ground and we are ready to get to work as soon as we receive a formal notice of award,” Ferrer added. (CSL with PR)