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GMR starts operating Filipino airport
GMR starts operating Filipino airport, This development marks a key milestone for GMCAC in its journey to transform MCIA into a world class airport.
A consortium led by the infra major will transform Mactan Cebu International Airport into a world class facility
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Hyderabad: GMR-Megawide Cebu Airport Corporation (GMCAC), a joint venture between GMR Group and Megawide Construction Corporation of Philippines, has taken full operational control of the Mactan Cebu International Airport (MCIA) in Cebu in Philippines.
This development marks a key milestone for GMCAC in its journey to transform MCIA into a world class airport. This is also an important landmark for Philippines as the MCIA is the country’s first airport to be privatized under the administration’s ambitious PPP programme aimed at modernizing key infrastructure assets.
“The takeover of operations of Mactan Cebu International Airport marks the beginning of a new chapter for GMR Group’s airports business. We have proven credentials in airport operations and modernization and we are confident that we will undertake this prestigious project in a timely manner and deliver an airport that Cebuanos and Filipinos will be proud of,” said G M Rao, Chairman, GMR Infrastructure Ltd, in a statement.
GMR-Megawide Consortium had emerged as the highest bidder in the international competitive bidding process for the airport after offering a bid premium of 14.4 billion Philippine Pesos. The formal award of the project in April this year 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, the JV will build a brand new terminal building within three years to cater to the growing traffic.
At the same time, its immediate priority will be to upgrade the existing terminal and enhance operating systems and processes to improve service quality and efficiency.
“We believe that our strategic plan for MCIA will result in the delivery of an efficient, passenger-oriented and commercially sustainable airport. We believe in inclusive growth and through Foundation we will also contribute towards the social and economic development of the Cebu province,” Rao added.
