Megawide-GMR statement on Senate hearing: to develop world-class Cebu airport

Statement: Megawide and GMR attend 2nd Senate hearing

The GMR-Megawide consortium today re-iterated its commitment to engage with Cebuanos in developing a world class airport at Cebu. Responding to observations made by Senator Grace Poe at the Senate Hearing on the Mactan Cebu International Airport project today, members of GMR-Megawide consortium said that they have already initiated efforts to take inputs from the local Cebu community that will be incorporated in the development of the new airport.

Andrew Harrison, Deputy CEO of GMR’s Delhi International Airport said: “The design of an airport is about creating spaces which the passengers and community can enjoy. We have plans to collaborate with internationally-renowned Cebuano architects and designers to ensure that Cebuanos are proud of their airport.”

Louie Ferrer, Chief Marketing Officer of Megawide, reiterated the consortium’s efforts to reach out to both Cebuano stakeholder groups and the general public. “Not only are we talking to local designers, we are also sharing the design to the public through social media. We can collaborate with them on the design and facilities they are looking for in their airport.”

The Consortium has already shared a walkthrough of its design on its Facebook page to get public feedback for further improvement.

GMR-Megawide has emerged as the highest bidder for the development of Mactan-Cebu International Airport post a competitive bid process which lasted for more than a year.

In response to a question by Senator Serge Osmeña on the financial status of GMR Group, Sidharath Kapur, President of GMR Airports, said: “GMR has an excellent financial standing as illustrated by the investment grade credit rating by international rating agencies. In addition, reputed international banks have expressed interest in lending to the consortium for the project.” Kapur also added that GMR continues to make operational profits and is meeting all its financial obligations.

Oliver Tan, Chief Financial Officer of Megawide Construction also chipped in, saying, “Megawide’s net worth alone is four times the stipulated requirement for the MCIA bid.”

The GMR-Megawide Consortium would like to reiterate their stand that at all times during the bid they have been in full compliance with the bid rules and requirements and have also replied to the allegations raised.


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