MANILA, Philippines — The proposal of Megawide consortium to rehabilitate and expand Manila’s Ninoy Aquino International Airport (NAIA) remains under study by government, the transportation department said on Wednesday.
“There is no contract awarded yet, or any agreement decided upon, on the NAIA Expansion project, Transport Undersecretary Ruben Reinoso said in a statement.
“The proposal is still to be evaluated and approved by the National Economic and Development Authority Investment Coordination Committee (NEDA-ICC) and the NEDA Board,” he explained.
The ICC, chaired by the finance secretary and composed six other officials, approves big-ticket state projects. The NEDA Board, meanwhile, is chaired by the president.
Megawide Construction Corp. and its Indian partner, GMR Infrastructure Ltd., were awarded original proponent status of the NAIA expansion project in July after talks were terminated with a consortium of six conglomerates including Ayala Corp. and Aboitiz Group. The group, at the time, tweaked their offer to ensure the airport’s financial returns operating amid travel prohibitions, which government rejected.
Since then, Megawide has been waiting for word from government examining its proposal for an 18-year contract to refurbish the ageing gateway worth $3 billion. While the study endorsed by the transport agency is not yet completed, Reinoso said the company will be informed once it’s done.
“The Manila International Airport Authority (MIAA), as the primary grantor for the unsolicited proposal, will be the contracting party to the concession agreement, if approved by the ICC and the NEDA Board,” he said.
Once approved, a Swiss challenge will be held wherein other parties will be allowed to challenge Megawide’s offer. As original proponent however, the company will have the chance to match a better proposal should there be one.
If the company ultimately bags the NAIA expansion project, it would add to Megawide’s growing list of foray to the government’s infrastructure program. Currently, the consortium also operates the Mactan-Cebu International Airport.
Beyond airports, Megawide also won the contract the building and operations of Paranaque Integrated Transport Exchange, a terminal for public transport systems, as well as the first phase of the Malolos-Clark Railway. — Franco Luna
#realestateblogph | #realestateblogphpropertynews | #REBPH
Article and Photo originally posted by Philippine Star last October 21, 2020 6:33pm.
About Post Author
More Stories
Banks’ total assets up at P26.2 trillion end-June
Lamudi sees heightened developer confidence with rise in ad spending
Phase 1 of PHINMA’s Bacolod township to finish by next year