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GMR Airports in Race for $3B Manila Airport Redevelopment

GMR Airports, a prominent infrastructure player, is among the top contenders for the $3 billion redevelopment contract of Ninoy Aquino International Airport in Manila. The other two bidders are San Miguel Corporation, a Philippines-based conglomerate, and the Manila International Airport Consortium (MIAC). GMR’s consortium includes Cavitex Infrastructure Corporation and the House of Investments, operating the Rizal Commercial Banking Corporation.

The Philippine Transportation Department outlines the project’s scope, involving terminal upgrades, capacity expansion to 62 million passengers annually, and enhancements to technology infrastructure.

The winning bidder will undertake the airport’s operation and maintenance, with the capacity set to double post-upgrade to around 60 million passengers per year. The concession period spans 25 years.

The GMR-led group has proposed a 33.30% government share, while the San Miguel Consortium, with South Korea’s Incheon International Airport Corp., offered the highest at 82.2%.

If successful, this would mark GMR Group’s third airport project in the Philippines, following the Mactan-Cebu International Airport in 2014 and the Clark International Airport expansion project in 2019. Additionally, it would represent the group’s largest international airport venture outside India, where they operate the Delhi airport.

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