NAIA rehab proponent to submit financial requirements this week

    Expansion. Megawide-GMR offers to construct a new terminal, additional taxi lanes and an elevated railway at the country’s premier gateway.

    The consortium of Megawide Construction Corp. and India-based GMR Infrastructure Ltd. (Megawide-GMR) hopes the Swiss challenge for the P109-billion rehabilitation and expansion of the Ninoy Aquino International Airport (NAIA) will be completed by the first quarter of next year.

    Manuel Louie Ferrer, Megawide Construction managing director for transport, said in a press briefing the consortium will submit this week the financial requirementson the project, the last requirement of the National Economic Development Authority prior to the Swiss challenge process.

    The Department of Transportation in July granted Megawide-GMR original proponent status on the project after a failed negotiation with the NAIA consortium over financial issues.

    Under the Swiss challenge, other companies have the right to submit an offer to the government but Megawide- GMR has the right to match any offer.

    Edgar Saavedra, Megawide Construction chairman, said the company has fully complied with the technical and legal requirements and has financial capability to fund the project.

    Saavedra said the total capex of P109 billion is programmed for seven to 10 years which will be funded 60-40 percent between Megawide and GMR.

    Under the proposal, the consortium will undertake the rehabilitation and improvement of the airport for 25 years which include the construction of a new terminal, additional taxi lanes; and the construction of an elevated railway.