Philippines SC upholds award of Cebu airport project:GMR Infra

GMR Infrastructure today said the Supreme Court of Philippines has upheld the decision to award the Cebu airport modernisation project to the group's consortium, a development that would boost its business prospects in the Southeast Asian country.
The Supreme Court of Philippines has upheld the decision of the Department of Transportation and Communications to award the Mactan-Cebu International Airport project to the GMR Infrastructure Ltd and Megawide Construction Corporation consortium, GMR said in a statement.
"Citing lack of merit, the decision endorsed by Chief Justice of Philippines, has denied the April 2014 petition by Senator to stop the awarding of the contract.

"It also denied the separate petition by the Business for Progress Movement for lack of legal and factual bases," the statement said.
GMR-Megawide consortium is also in the race to bid for five regional airports in the Philippines.
According to GMR, the court's decision would clear any overhang that existed on the consortium and paves the way for expeditious implementation of the modernisation and expansion project for Cebu airport.

The decision was announced by the Supreme Court Public Information Office.
"There being no violation of any law, regulation or the bidding rules, nor any arbitrariness or unfairness committed by public respondents, the presumption of regularity of the bidding for the MCIA Project must stand," the statement said citing the court ruling.

Welcoming the decision, a GMR Infrastructure spokesperson said it clears any confusion or misconception about the process of airport modernisation.
"The decision will also boost the confidence of foreign investors in the PPP program of the government of Philippines and comes at an opportune time when the five regional airports are being bid out, in which GMR is also participating," the spokesperson said in the statement.
GMR Megawide Cebu Airport Corporation (GMCAC) is a Filipino company formed by GMR group of India and Megawide Construction Corp under public private partnership with the Department of Transportation and Communication.
GMCAC won the 25-year concession to rehabilitate and manage terminal operations at the Mactan Cebu International Airport, including the construction of a second, bigger terminal, T2.

The company took over the management of the MCIA passenger terminal and related areas on November 1, 2014.