GMR Airport Project
Expanding its airport infrastructure building business in the international market further, GMR in a recent cache has secured $320-million project to expand and operate the Mactan Cebu International Airport, which is the second-largest airport in the Philippines. The bid of 14.4 billion Philippine pesos amounting to about $320 million won by GMR and its partner, Philippines-based Megawide Construction Corporation by outbidding six other bidders, including the Fil-invest CAI consortium. Commenting on the development, Chairman GMR, GM Rao said that the company is delighted as it believes that the GMR-Megawide consortium has the right credentials and capabilities to undertake this prestigious project. In fact, the Mactan-Cebu airport is the second busiest in the south-east Asian island country commanding passenger traffic of nearly seven million per annum and the GMR consortium will have to build a second terminal within three years apart from modernizing the existing one.