GMR-Megawide Cebu Airport Corporation (GMCAC) a joint venture between GMR Infrastructure Ltd and Megawide Construction Corporation has opened the new Terminal T2 at Mactan Cebu International Airport (MCIA) in Philippines on Sunday.
The $600-million project is part of the first ‘airport resort’ in the world that GMR-Megawide has been managing since 2015 after winning the concession agreement.
GMCAC took over the operations MCIA from November 1, 2014 and is responsible for construction, development, renovation, expansion and operation of the airport for a period of 25 years.
“With the opening of new terminal, the entire international operations has moved from existing Terminal 1 to brand new Terminal 2 and total capacity of MCIA has expanded from 4.5 mppa to 12.5 mppa,” said a company statement adding that the new terminal, spanning 65,500 sq.m will not only lessen congestion in MCIA, but also offer an wide-ranging retail environment.
GMR Infrastructure holds 40% stake in GMCAC, while remaining 60% is held by Megawide Construction Corporation.
“With a unique design that captures the warmth and friendliness of the local culture, Terminal 2 is set to transform MCIA into a world-class facility and resort-gateway,” the statement added.
Considered as the central gateway to the Visayas and Southern Philippines, MCIA is the second largest airport facility in Philippines. In 2017, it welcomed a total of 9.97 million passengers, a 12% increase from the previous year's 8.89 million.
With a total of 23 international destinations, 33 domestic destinations and 26 partner airline carriers, Mactan Cebu Airport connects Cebu to the rest of the Philippines and to the world.
The launch of Terminal 2 and the future expansion of MCIA will allow GMCAC to launch more direct international services to Cebu and expand the number of domestic connections such that Cebu becomes a major gateway to the Philippines, the statement added.
GMR Infrastructure shares on BSE were marginally trading up marginally at ₹15.85 in a stable Mumbai market on Tuesday.