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GMR consortium set to win $400 mn Philippine deal
By Erik dela Cruz
December 12, 2013 11:12 IST
A consortium of India's GMR Infrastructure Ltd and the Philippines' Megawide Construction Corp is the likely winner of a $400 million tender to build and operate a passenger terminal at an international airport in central Philippines.
The consortium beat six others at an auction on Thursday by offering a premium of 14.4 billion pesos ($326 million) for the project at Mactan-Cebu International Airport, one of several infrastructure projects offered under a public-private
partnership scheme.
The amount was higher by about 400 million pesos than that of the second-place bid from a consortium led by Filinvest Development Corp and Changi Airports Saudi Ltd.
Other consortia were led by Metro Pacific Investments Corp , San Miguel Corp, First Philippine Holdings Corp, Ayala Corp and Aboitiz Equity Ventures Inc, and SM Investments Corp.
($1 = 44.1250 Philippine pesos)Source:
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