GMR Megawide initiative for airport project

MR Megawide Cebu Airport Corporation (GMCAC), a JV between GMR group and Manila-based Megawide Construction, has tied up the finances of nearly $525 mn for Mactan Cebu International Airport contract in Philippines. GMR holds 40 per cent while Megawide holds 60 per cent of the total stake. GMCAC will construct, develop, renovate, expand and operate the Mactan Cebu International Airport for a period of 25 years. The JVC will build a brand new terminal building within three years. Contact: GMR Group. Tel: 022-4202 8000 Website: www.gmrgroup.in