Full support for Cebu airport project
We’re glad Rina Jimenez-David has taken a keen interest in the modernization of the Mactan Cebu International Airport (“Still on the Cebu airport,” Opinion, 4/11/14). Allow us, however, to clarify some of the issues she raised.
Our consortium won the bidding conducted by the Department of Transportation and Communications fair and square. We met all of the requirements set forth by the Prequalification, Bids and Awards Committee. When the results were announced last December that we submitted the highest bid of P14.4 billion and had won over six other bidders, we thought we would be awarded the contract straightaway. But our hopes were dashed when Sen. Serge Osmeña sought to disqualify us, alleging, among other reasons, that we don’t have the financial capacity.
We would like to point out that our Indian partner, GMR Infrastructure, has excellent financial standing and this is amply demonstrated by its Triple A rating from international ratings agencies. A number of reputable international banks have also expressed interest in extending loans to the consortium for the project.
GMR continues to post profits from its operations and is able to meet all its financial obligations. In fact, GMR’s audited financial statements show that it has actually earned operational profits in each of the last six years.
On Megawide’s part, our net worth alone is four times the stipulated requirement for the MCIA bid.
Now that the DOTC has finally awarded the project to our consortium, we are committed to transform Mactan airport into a resort-style gateway which would mirror Cebuano culture and sensibilities to the hundreds of thousands of travelers served by this airport in the south. We are going to build a new terminal and rehabilitate the existing one. We will put in place the necessary infrastructure and equipment that would transform it into a world-class airport.
We ask Senator Osmeña to fully support this airport project as this will definitely improve the economy not just of Cebu but also of the entire country.
Let us join hands so that we can achieve our common goal of sustaining the momentum of economic growth in the years ahead.
—LOUIE FERRER, chief marketing officer, Megawide
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