GMR, Megawide Group Set To Win Philippine Airport Contract

GMR Infrastructure and contractor Megawide Construction Corp are the likely winners of a $400 million airport terminal tender, the biggest so far under the Philippines' public-private partnership programme.
The consortium beat six others including the country's top conglomerates at an auction on Thursday, offering a premium of 14.4 billion pesos for the 25-year concession to operate central Philippines' Mactan-Cebu International Airport - the country's second-biggest - and build one of its terminals.
The project is a test of the government's resolve to boost economic growth through public-private partnerships (PPP) in infrastructure, following delays in previous high-profile tenders that have raised doubts about the scheme's effectiveness.
The Megawide-led offer was about 400 million pesos above the second-place bid from a group led by property-to-banking firm Filinvest Development Corp and Changi Airports Saudi Ltd. The winning bidder will likely be announced in early January.                                                                  Read news in full 12/12/13 Business World