Megawide-led group takes over NAIA rehab

Megawide Construction Corp., the listed engineering company and airport operator, has bagged the original proponent status (OPS) for the development of the Ninoy Aquino International Airport (NAIA) after government negotiations with a super consortium of seven conglomerates bogged down.

“We got the OPS already,” Megawide managing director for transportation Louie Ferrer told The STAR yesterday.

He said that with the OPS, the Mactan-Cebu International Airport operator would study the new terms and conditions set by the government for the airport deal, as well as the viability of the airport project in this time of the coronavirus disease 2019 or COVID-19 pandemic.

Should it find these acceptable, Megawide will enter into negotiations with the National Economic and Development Authority (NEDA).

“The next step is to study it and then start negotiations with NEDA,”  Ferrer said.

Ferrer said that if they bag the deal, India’s GMR would be their partner operator and that they could get other partners as well.

The seven conglomerates decided not to pursue the airport project as conditions set by the government and the COVID-19 pandemic, which has drastically affected air travel, made the project no longer viable.

The consortium comprises of Aboitiz InfraCapital, Ayala’s AC Infrastructure Holdings Corp., Andrew Tan’s Alliance Global Group Inc., Lucio Tan’s Asia’s Emerging Dragon Corp., Gotianun-led Filinvest Development Corp. and JG Summit Holdings Inc. of the Gokongwei family.

The consortium previously included Metro Pacific Investments Corp. (MPIC) but the Pangilinan-led conglomerate backed out due to contentious issues.

The group submitted its proposal in February 2018 and was granted an OPS in August of the same year. It offered to invest P102 billion for a 15-year concession period.

Megawide submitted its proposal a month after, offering to rehabilitate, operate, and maintain NAIA for an 18-year concession period. Its proposal then provided a project cost of P155 billion.

SOURCE: Philstar

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