Bangalore, April 5, 2014:
The Department of Transportation and Communications (DOTC), Republic of the Philippines has formally awarded the Mactan-Cebu International Airport rehabilitation, expansion and operation project to the GMR-Megawide Consortium for a 25-year concession period.
In the international competitive bidding process GMR-Megawide Consortium had emerged as the highest bidder after offering a bid premium of 14.4 billion Philippine Pesos (approximately US$ 320 million).
Commenting on the award, Mr. G.M. Rao, Chairman, GMR Infrastructure Ltd said: “We are delighted to be awarded the Mactan-Cebu International Airport project. We firmly believe that GMR-Megawide Consortium has the right credentials and capabilities to undertake this prestigious project and deliver an airport that Cebuanos and Filipinos will be proud of.”
GMR Infrastructure and Megawide Construction will combine their expertise and track record to transform the Mactan-Cebu International Airport into a world-class facility.
Mr. Rao further added: “GMR has redefined the standards and quality of infrastructure, services and customer deliverables at key airports such as New Delhi, Hyderabad and Istanbul Sabiha Gocken. We have vast experience across the entire spectrum of airport development and operations. We believe that our strategic plan for Mactan Cebu Airport will result in the delivery of a very efficient, passenger-oriented and commercially sustainable airport. We believe in inclusive growth and through Foundation we will contribute significantly towards the social and economic development of the Cebu”.
GMR-Megawide Consortium plans to develop the Mactan-Cebu International Airport into a regional hub in the Philippines, creating passenger and cargo traffic growth, jobs for local community, giving a boost to the tourism traffic and creating multiplier economic benefits for the region.
Airports operated by GMR have been consistently rated amongst the best run airports in the world as per Airport Service Quality surveys conducted by Airports Council International. GMR has demonstrated its capability and expertise by transforming the Delhi airport. When GMR took over the airport in 2006 it was ranked 101st amongst 150 airports around the world. Today the Delhi airport is the 5th best airport overall amongst 285 airports in the world. Similarly the Hyderabad airport has been rated the 2nd best airport in the world in the 5 to 15 million passenger category.
The economic research wing of the ‘NCAER’ in its report has stated that in 2009-10 the Delhi Airport contributed to more than 13% of the Delhi State GDP and accounted for more than 25% employment generation (directly and indirectly).
GMR had bid for the Mactan-Cebu airport project with Megawide Construction Corporation, one of Philippine’s leading construction firms listed on the Philippine Stock Exchange since 2011.
About GMR Infrastructure Ltd:
GMR Infrastructure Ltd. is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets. The Company has 15 power generation assets of which 8 are operational and 7 are under various stages of development and 8 Road assets, of which 7 are operational and one is under construction. In the Airports sector, the Company operates India’s busiest airport, the Indira Gandhi International Airport in New Delhi, where it has built a brand new integrated terminal T3. It has also developed and commissioned the Greenfield international airport at Hyderabad as a gateway to south and central India. It has been part of a consortium that has upgraded and is operating the Istanbul Sabiha Gökçen International Airport. GMR Group is also committed to social development initiatives and executes these through its Corporate Social Responsibility arm, the GMR Varalakshmi Foundation which is present in 24 locations.
For further information about GMR Group, visit www.gmrgroup.in
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