Philippines SC upholds Award of Cebu Airport Modernization Project to GMR - Megawide Consortium...

8/20/2019 Philippines SC upholds Award of Cebu Airport Modernization Project to GMR - Megawide Consortium [Company Up…

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M

EDI

RELE

SE

P

hilip

p ines

S

upho

lds

Aw a

rd of

Cebu

Air

port

M o

dern i

zat ion

P r o je

c t to

GMR

M e

gawi

de on

sortiu

m

• Re

in force

s G MR

's pos

ition as

acred i

b le and

f inanc

ial ly s

trong a

irport op

erator

• Enha

nces G

M R 's b

u s ines

s op po

rtu ni t ie

s in

Ph

il ipp ine

s

New D

elhi, F

ebruary

1, 201

6: In a

landmar

k ju dg m

en t, the

S upre

me C ou

rt (SC)

o f Philip

pines h

as

upheld

th e de

cision o

f the D

ep artm

en t o f T

ranspo

rtation a

nd Com

munic

ations

(DoTC)

to awa

rd

the M

actan-C

ebu In

ternatio

na l Air

po rt pr

oject to

th e G

MR Inf

rastruct

ure Lim

ited (G

MR) a

nd

Megaw

ide C on

structio

n Corp

oration

(M CC)

consorti

um .

Citing

la ck o

f merit,

th e de

cision

endorse

d by C

hief Jus

tice of

Philipp

ines, ha

s denie

d the A

pril

2014 p

etition b

y Sen a

to r to s

top the

aw ardin

g of th

e contra

ct. It a

lso den

ied the

se parat

e petitio

n

by

the Bu

siness f

or Prog

ress Mo

vemen

t for lack

o f lega

l and fa

ctual b

ases.

The P

hilippin

es ap e

x Cou r

t s dec

ision, w

hich w

as an n

ounced

by the

S upre

me Co

ur t Pub

lic

Information Offic e, clears any overhang that existed on GMR led co n so rtium

an d pa

ves the

way fo

r

expe

ditious

im plem

en tation

o f the

modern

isation

and exp

ansion

project

fo r Ceb

u airpor

t.

The

re bein

g no v

iola t ion

of an

y law, r

egu latio

n or th

e bidd

ing rule

s, no

r

a

ny ar

bitrar in

ess

or unf

a ir ness

co

mmitte

d by publi

c re s

ponden

ts , th

e presu

mption

of

re

gu lar i t

y of th

e

bi

dd ing for

the M

CIA Pr

oject mu

st sta

nd, th

e decisi

on read

s.

Com

menting

on the

d evel

op men t

, GMR nf

rastruc

ture s

pokes

person

said,

We w

elc om e

the

Suprem

e Cou

rt judg

ment

It clear

s any

c

onfusi

on or

miscon

ception

about

th e p r

ocess

of

a

irport m

odern

iz ation

. This

decisio

n rein

forces o

ur pos

it ion a

s a c

red ible

f ina

nc ially

stron

g air

port ope

ra tor. T

he dec

is ion will

also

bo

ost

th e co

nf idenc

e

of

fo

re ign i

nvestor

s in

th e PPP program

of

th e government

of

Ph ilipp ines and

comes

at an opportune ti m e when

t

he 5 re

g iona l

a i rpor ts

are

being bid

out, in

w hich

GMR

is also

partic

ipating

.

GMR

Inf ra le

d conso

rtium w

on the

co ntrac

t to expa

nd and

m oder

nize Ma

ctan-Ce

bu airp

or t on B

OT

b

as is fo

r 25 yea

rs. The

ai rport

co nces

sion op

erates o

n a cle

ar dual

till with

ae ro ta

riffs fixe

d und e

r

the

conces

sion an

d the

airport

en tity h

av ing n

o cross

su bsid

y from

other r

evenue

s. GM R

has

brough

t in

o

pe ration

al best

pr actic

es , wh i

ch hav

e signif

icantly

enhance

d pass

enger

experie

nce

a

nd im p

roved a

irport pe

rforman

ce resu

lting

in double

d ig it tra

ffic g ro

wth. Fin

ancially

, the air

po rt ha

s

1



reported a healthy EBITDA o 66 for the calendar year 2015 and figured

in

the top airports

ranking for the first time

in

its history.

The order also provides a boost to the GMR-Megawide consortium who are

in

the race to

bid

for

the 5 regional airports

in

Philippines.

GMR Group owns and operates India's Delhi Airport which is presently ranked

as

World's

No.1

airport

in

its passenger category as well as Hyderabad airport which has been consistently ranked

among World's top three airports in its category over the last 7 years. The Group had constructed

Delhi airport's Terminal3

in

a record time

o

37 months and Istanbul's Sabiha Gokcen airport

in

18

months, which is a world record.

About GMR-Megawide Cebu Airport Corporation:

GMR Megawide Cebu Airport Corporation (GMCAC) is a Filipino company formed from the Consortium

comprising of GMR group o India and Megawide Construction Corp. of the Philippines under the Public

Private Partnership (PPP) with the Department of Transportation and Communication (DOTC). GMCAC won

the 25-year concession to rehabilitate

and

manage terminal operations at the Mactan Cebu International

Airport (MCIA), including the construction of a second, bigger terminal, T2. The company took over

management of the MCIA passenger terminal and related areas

on

November

1

2014. For more information

visit www.mactancebuairport.com

About

MR

Infrastructure Limited:

GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation

and Urban Infrastructure. The group has fifteen power generation projects of which ten are operational and

five are under development; nine operating road assets and a double rail track line between Mughalsarai

New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor under development.

GMR Group developed and operates India's busiest and currently World's No1 Indira Gandhi International

Airport in New Delhi and greenfield Rajiv Gandhi international airport at Hyderabad. GMR Infrastructure in

partnership with Megawide Construction Corporation is developing Mactan Cebu International Airport (MCIA)

in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada

and India's largest Smart Airport City near Hyderabad International Airport.

GMR Group, through its Corporate Social Responsibility arm, GMR Varalakshmi Foundation, carries out

community-based development initiatives at 22 different locations in the areas

o

education; health, hygiene

and sanitation; empowerment and livelihoods; and community development. For further information about

GMR Group, visit

http://www.gmrgroup.in/index.html

For Further details please contact:



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Philippines SC upholds Award of Cebu Airport Modernization Project to GMR - Megawide Consortium...

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