MEGAWIDE Construction Corp. has won the contract for the construction and development of the P1.87 billion Cavite Bus Rapid Transit (BRT) project.
“Megawide Construction Corp.” has formally received the notice of award dated December 26, 2024 from the Office of the Provincial Governor of the Province of Cavite,” Megawide told the exchange on Thursday.
The P1.87 billion Cavite BRT is a joint venture between Megawide and real estate development company Maplecrest Group, Inc.
The award is still pending the joint venture’s proponents meeting all necessary conditions and submitting the required documentation, Megawide said.
The Cavite BRT System Project involves the development, operation and maintenance of a bus rapid and P2P (point-to-point) route with a 42-kilometer stretch spanning Imus, General Trias, Tanza, Kawit, Trece Martires and its surrounding areas, while also providing a link to Metro Manila through the Parañaque Integrated Terminal Exchange (PITX), information from the Public-Private Partnership (PPP) Center website showed.
PPP Center previously said the Cavite BRT system had a December 23 deadline for the project’s comparative challenge last year. The joint venture submitted its unsolicited proposal in April 2023.
The project is divided into two phases. The first phase of the project is expected to start in 2026; Phase 1 of the project includes the construction of terminals 1 and 2, construction and operation, and maintenance of 27 stations, BRT alignment and P2P alignment.
The second phase of the project includes the 13.79-kilometer BRT stretch from Station 27 to Cavite’s New Capitol Building and the 21-mile P2P stretch from PITX to Terminal 3.
In 2015, Megawide’s unit MWM Terminals, Inc. has been awarded the 35-year contract for the construction and operation of the PITX, an integrated and multimodal terminal.
Megawide’s other unsolicited proposal, the P1.19 billion Baguio City Integrated Terminal, will face a Swiss challenge this year.
At the local bourse, the company’s shares closed 2.08% higher at P2.45 each on Thursday. – Ashley Erika O. Jose