MEGAWIDE Construction Corporation today (Nov 23) announced it has complied with the additional requirements for its P109 billion unsolicited proposal to rehabilitate the Ninoy Aquino International Airport (NAIA).
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”), is a key milestone.
“The financial documents we submitted are sufficient to exclusively support the requirements of the NAIA project,” declared Louie Ferrer, Megawide Managing Director, Transport.
“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,” he noted.
Last week Megawide concluded a successful agreement with Indian infrastructure giant GMR Infrastructure Limited (GMR), with both companies agreeing to undertake the rehabilitation and transformation of NAIA as a partnership.
Megawide will hold a controlling sixty per cent interest in the partnership while GMR will retain forty per cent.
“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),” says Edgar Saavedra, Megawide Chairman and CEO.
“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.”
GMR is among the world’s leading and largest airport operators, and pre-pandemic managed over 100 million passengers annually, connecting 267 global cities.
In September 2020, the world’s largest airport operator, Groupe ADP (Aeroports de Paris) which manages the Parisian international airports Charles du Galle, Orly and Le Bourget Airport, acquired 49% of GMR.
Megawide looks forward to leveraging GMR and ADP’s global leadership and rich experience in the rehabilitation and transformation of NAIA.
“In partnership with stakeholders, we transformed MCIA is the Philippines’ first world-class airport in decades,” according to Saavedra.
“A few months ago, we completed the new terminal at CIA, ahead of schedule and under budget. We are the only company in the Philippines with a successful track record in airport infrastructure and together with GMR we hope to contribute our half a decade of expertise to our country’s main gateway.”
“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,” added Saavedra.