MEGAWIDE Construction Corp. is ready to revive its proposal to rehabilitate the Ninoy Aquino International Airport (NAIA) in the next administration, the company’s executive director said.
“It depends on the appetite of the [new] administration. We have a good proposal. We have a very good project,” Megawide Executive Director for Infrastructure Development Manuel Louie B. Ferrer told reporters at the Mactan–Cebu International Airport last week.
“If the new administration is interested, why not? The proposal is ready. We never closed our doors,” he added.
After the Manila International Airport Authority board rejected Megawide and its foreign partner GMR Infrastructure Ltd.’s appeal in 2021 to overturn the revocation of its original proponent status for the NAIA rehabilitation project, the company shifted its focus to local government unit projects.
Cebu2World Development, Inc. (C2W), a subsidiary of Megawide, has substantially completed the first phase of the P5.5-billion Carbon Market Redevelopment project in Cebu City, which will be launched on April 17.
The project is a 50-year joint venture with the Cebu City government. It covers the modernization of the 100-year-old Carbon public market as well as the infrastructure development of the entire district.
Under the contract, Cebu City will receive an annual guaranteed payment of P50 million with 10% escalation every five years.
The second phase of the project will be a mixed-use development.
“We have serious plans already for a land port project here in Cebu. It’s in Carbon. We’ll have a water taxi; when you get off, there’s an integrated terminal exchange which will connect you to different modes of land transportation,” Mr. Ferrer said. — Arjay L. Balinbin