January 13, 2015

MWIDE unit offers best bid for transport terminal

Various news agencies today reported that MWM Terminals, a consortium of Megawide Construction Corp (MWIDE) and Walter Mart’s WM Property Management Inc, submitted the best financial bid for the P2.5b Integrated Transport System (ITS) Southwest Terminal project.

The bid is still subject to evaluation with the winner to be announced soon. The terminal project, to be built on a 4.59 hectare site near Manila-Cavite expressway, is the first PPP project of its kind to be auctioned off by the government. MWM Terminals offered a lower annual grantor payment (AGP) of P100m compared with P650m from Filinvest Land Inc (FLI), the only other bidder for the project. The AGP is the fee that the government will pay the winning concessionaire.

Should MWIDE win the project, it would be the fifth PPP project awarded to the construction company after the P17.5b Mactan-Cebu International airport project, the P5.69b Modernization of Philippine Orthopedic Center, P16.28b first phase of the PPP for School Infrastructure (PSIP) project; and the PSIP’s P3.86b second phase. - WealthSec