May 25, 2024


World Business Inquiries

Megawide bags original proponent status for NAIA modernization

1 min read

Megawide director Louie Ferrer and chair/CEO Edgar Saavedra

Construction and engineering firm Megawide Construction Corp. has bagged the right to negotiate with the government as a partner for the modernization of the Ninoy Aquino International Airport, Metro Manila’s main international gatewat.

Megawide disclosed on Friday that in a letter dated 15 July, the Manila International Airport Authority (MIAA) had granted its consortium the Original Proponent Status (OPS) for the development of NAIA.

The consortium includes Megawide’s partner, GMR of India, which is likewise its partner at the Mactan-Cebu International Airport.

To recall, Megawide and partner GMR submitted in 2018 a $3-billion unsolicited proposal to upgrade and rehabilitate the highly-congested NAIA under a proposed 18-year concession. The proposal then was to increase airfield capacity to 950 to 1,000 aircraft movements per day, a 30-35 percent increase from estimated daily movements at that time.

However, the terms will now be based on the terms of reference presented by the government, which recently terminated its discussion with the first consortium that bagged the original proponent status.

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Source Article | Newsphere by AF themes.