Philippines : Mactan Cebu International Airport expansion makes up bulk of P25.4B investments.
The project to expand the Mactan Cebu International Airport (MCIA) makes up the bulk of the P25.4-billion investments in Cebu that the Board of Investments (BOI) recorded in the first half of 2016.
According to BOI-Cebu officer-in-charge Ellorence Cruz, this is the P16.8-billion transportation and storage project of the GMR-Megawide Cebu Airport Corp. (GMCAC), the MCIA's private operator.
The GMCAC investment represents 66.14 percent of the total investments recorded in H1-2016.
Cruz said, "Not only did this project have the biggest cost, it also has the biggest impact since it is related to addressing transportation and mobility."
GMCAC secured the bid for the P17.5-billion MCIA rehabilitation and upgrade, which includes the construction of a second terminal beside the current one.
The expansion project aims to boost the capacity of MCIA, the busiest airport outside Manila, from 4.5 million to 12.5 million passengers annually.
[c] 2016 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 7, 2016|
|Previous Article:||Nigeria : FIDELITY BANK hires ERNEST EBI as Chairman.|
|Next Article:||India : Lenovo joins hands with Indiegogo to help developers raise funds for Moto Mods ideas.|