MEGAWIDE Construction Corp. is considering opting out of a plan to participate in the rehabilitation of the country’s main international gateway even though it was previously granted original proponent status (OPS) for the project.
Louie Ferrer, Megawide executive director for infrastructure development, said the firm may not take another shot at the proposed upgrade of the Ninoy Aquino International Airport (NAIA), citing strict project requirements and a lack of partners.
“[M]aybe we won’t because the parameters are quite stringent, so we’re not yet sure… maybe we may not participate,” Ferrer said in English and Filipino at the sidelines of an event organized by PH1 World Developers, a Megawide unit, last Friday.
“We haven’t acquired the bid documents, so we don’t know the details. Just from what we have heard, it’s quite difficult], so we haven’t decided yet,” Ferrer said, noting this was one of the challenges they had seen with the project.
Megawide Chairman and Chief Executive Officer Edgar Saavedra said they remained open to working with any firm, provided they have a significant role in the partnership.
“If there is no partner, then there’s none. If there is, then we will see,” Saavedra said in Filipino.
In July 2020, the Manila International Airport Authority (MIAA) awarded Megawide and its partner, GMR Infrastructure, original proponent status, giving them the right to match bids made by rival groups and win the project through a Swiss challenge.
Megawide-GMR was given the status after negotiations with the then-NAIA Consortium — consisting of some of the Philippines’ biggest conglomerates — stalled.
In December of the same year, MIAA revoked the OPS issued to Megawide and its partner, without citing the reason for the decision.
“At all stages, Megawide has complied with all requirements and interpretations of the government for its unsolicited proposal,” Megawide said in a statement at that time.
“There are no justifiable grounds to deny the Filipino people a transformed NAIA,” it added.
Megawide shares closed at P3.22 apiece on Friday, up 9 centavos for the day.