PHILIPPINE BUSINESS NEWS – The Department of Transportation and Communications (DOTC) revealed on Monday that only 2 of the 12 prospective bidders for the new P2.5b ($56m) Integrated Transport System Southwest Terminal Project in Manila, had submitted bids.
The bid deadline of the 22nd December, already repeatedly delayed, most recently from the 12th December to allow more time for the bidders, passed with only Filinvest Land Inc. and Megawide Construction Corp. subsidiary, MWN Terminals, having filed the necessary documents.
However, 10 companies that bought application papers, Ayala Land Inc., San Miguel Corp., Metro Pacific, D.M. Wenceslao and Associates Inc., Vicente T. Lao Construction, Robinsons Land, Ayala Corporation, State Properties, Expedition Construction Corp. and French company Egis Projects Philippines, all failed to submit bids.
The terminal scheme is one of the government’s key private-public partnership projects intended to speed economic growth. The project aims to provide a central transport terminal where all modes of transport will be available on one location. The terminal is intended to provide effective inter-connection between different transport modes and services and ensure seamless travel for the commuting public. The Integrated Transport System Project also aims to eliminate provincial bus traffic within Metro Manila.
The DOTC will now review the two competing bids for the 4.6 hectare (11.3 acre) terminal over the next 40 days.
Meanwhile, GMR-Megawide, a joint venture of India’s GMR group and Megawide Construction Corp., announced on Monday that the company had secured the required finances of nearly P23b ($525m) for the Mactan Cebu International Airport contract.
GMR said the “financing will fund 70 per cent of the total project cost of P33b ($750m).’’ The loan is being financed by a consortium of six banks.
GMR-Megawide Cebu Airport Corporation (GMCAC), has signed a 25-year concession agreement and the Mactan Cebu airport is the first in the Philippines to be privatised under the government’s PPP (public private partnership). GMR has 40 per cent equity, whilst Megawide Construction Corporation holds the remainder.
The consortium plans to develop the airport into a major regional hub in the Philippines, creating passenger and cargo traffic growth, jobs for local community, boosting tourism traffic and multiple economic benefits for the region, GMR added.