- Details
- Category: Companies
- Published on Tuesday, 26 March 2013 19:01
- Written by InterAksyon.com
THE owners of Philippine Airlines (PAL) on Tuesday said they are forming a consortium to bid for the P17.5-billion Mactan Cebu International Airport (MCIA) expansion project.
In a disclosure to the Philippine Stock Exchange, San Miguel Corp. (SMC) said the company and the group of Lucio Tan are “jointly submitting a competitive bid.” SMC owns 49 percent of PAL, while Tan holds the remaining 51 percent.
The disclosure quoted SMC President Ramon S. Ang as saying the two parties will form a consortium in which the PAL owners would control ony 33 percent. Under government bidding rules, airlines can own no more than a third of the operator the MCIA.
Other companies that purchased bid documents include Aboitiz Land Inc., Metro Pacific Investments Corp., JG Summit Holdings Inc., Filinvest Development Corp. and Filinvest Land Inc., Prime Power Holdings Corp., Megawide, GMR Infrastructure, First Philippine Holdings Corp. and Premier Airport Group of SM Investments Corp.
One of the Aquino administration’s Public-Private Partnership ventures, the MCIA project involves the construction of a new world-class international passenger terminal building, with a capacity of about 8 million passengers per year; renovation and expansion of the existing terminal; installation of all the required equipment; and the operation of both new and existing facilities.
When this new international terminal building is completed, the existing terminal, which caters to both domestic and international passengers, will then be converted into an exclusively domestic passenger terminal.
The project is expected to increase tourist arrivals in Cebu and nearby regions. In 2011 the MCIA served as gateway to 1.6 million tourists.
InterAksyon.com
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