Megawide Construction Corporation, a Philippines-based company, has teamed up with GMR Infrastructure, to bid for the development of Mactan-Cebu International Airport.
According to the terms for the bidding, a potential bidder has to have a local partner. The tie up is part of the arrangement.
According to filings in the Philippines exchange by Megawide, the pact will come up only when the airport contract is awarded to them.
The project bid is for construction of a new passenger terminal and related infrastructure.
The bid has been currently deferred by the local government.
The Bangalore-based diversified infrastructure company GMR group, has developed two airports in India — Hyderabad and Delhi — and is associated with some projects abroad.
When asked about the development and its implications, a GMR official said that the bid itself has been postponed and they would not like to comment on it now.