MANILA, Philippines—The Megawide engineering and construction group has teamed up with a leading infrastructure company from India to vie for the P17.5-billion Mactan Cebu International Airport passenger terminal redevelopment project.
In a disclosure to the Philippine Stock Exchange on Wednesday, Megawide Construction Corp. said it has entered into an understanding with GMR Infrastructucre Ltd of India to participate in the Cebu airport project.
“Megawide signed an understanding with GMR to form a joint venture once the project is awarded,” the disclosure said.
India’s GMR Group has interests in airports, energy, highways and urban infrastructure sectors in India and has employed the public-private partnership (PPP) framework in several iconic projects. This group also has infrastructure operating assets and projects in several countries including Turkey, South Africa, Indonesia and Singapore.