San Miguel Corp. (SMC) has acquired Saavedra-led Megawide Construction Corp. engaged to design and build a passenger terminal at Godofredo P. Ramos Airport in Caticlan.
In a regulatory filing Thursday, Megawide announced that it had won the contract for the terminal construction project at Boracay Airport, which is managed by Trans Aire Development Holdings Corp., a unit of SMC Infrastructure.
“This will be another exciting opportunity for Megawide – to be able to partner with one of the country’s largest and oldest conglomerates, SMC, and help realize its vision of a world-class facility at Caticlan Airport,” said Megawide Chairman and Chief Executive Officer (CEO) Edgar B. Saavedra told the exchange.
SMC, through its infrastructure unit, is overseeing the modernization of Godofredo P. Ramos Airport, also known as Boracay Airport.
“Our search for a contractor partner who shares our vision of modernizing airports in the country has concluded with our collaboration with Megawide,” said SMC Chairman and CEO Ramon S. Ang.
Megawide said groundbreaking for the new terminal is scheduled for December.
Mr Ang previously said construction of the new passenger terminal could take up to three years.
San Miguel plans to build a passenger terminal with a capacity of seven million, with eight passenger bridges.
“We believe that Megawide’s track record of building key infrastructure through efficient and sustainable practices will help us achieve a world-class facility within our committed deadline,” said Mr Ang.
Megawide has developed Mactan-Cebu International Airport (MCIA) together with partner GMR Airports International BV.
Megawide has since divested its stake in MCIA, leaving Aboitiz InfraCapital, Inc. can take full control of the Mactan-Cebu Airport.
Furthermore, Megawide is also one of the developers of the passenger terminal building of Clark International Airport, which is now operated and managed by Luzon International Premiere Airport Development (LIPAD) Corp.
San Miguel is also developing the P740-billion Bulacan International Airport or the New Manila International Airport (NMIA), which it expects to begin development work next year.
The company also runs the New NAIA Infra Corp., which took over the operation and maintenance of the country’s main gateway in September this year. – Ashley Erika O. Jose