This combination photo shows a file photo of the Ninoy Aquino International Airport Terminal 1 (left) and render of Megawide-GMR鈥檚 planned improvement of the country鈥檚 primary airport. Megawide seeks 鈥渢o transform NAIA from one of the world鈥檚 worst-rated to among the world鈥檚 best airports.鈥� FILE PHOTOS
MANILA, Philippines 鈥� Megawide Construction Corp. and GMR Infrastructure have maintained that they have the financial capacity to fund the Ninoy Aquino International Airport (NAIA) renovation as it formally filed its appeal for the restoration of its original proponent status (OPS) in the airport rehabilitation project.
In a motion dated December 21 and filed before the Manila International Airport Authority (MIAA), Megawide-GMR said it already submitted the necessary documents to prove its financial capability to fund NAIA鈥檚 improvement.
鈥淲e respectfully state that we submitted all the necessary documents to prove our financial capability to MIAA and DOTr weeks before the MIAA Board decided to revoke our OPS,鈥� reads Megawide鈥檚 motion for reconsideration, which copy was obtained by 黑料社.
Also, in December, Megawide wrote to NAIA to prove that it has 鈥渕ore than sufficient money鈥� to finance the NAIA rehabilitation project.
鈥淢egawide鈥檚 share in the equity requirement equivalent to Php19,575,138,130.74 will be fulfilled by a combination of (a) net worth amounting to Php 17,998,512,696.00 (2019 Audited Financial Statement submitted on 27 July 2020), and (b) Set-Aside Deposit of Php1,576,625,434.74,鈥� the motion also noted.
鈥淏ased on GMR鈥檚 audited financial statement for the period covering April 2019 to March 2020, it has a total net worth of Php78.6 billion which is more than sufficient to meet its Php13.1 billion equity requirement share,鈥� it added.
鈥淪ince the issuance of our OPS in July 2020, it has only been 5 months till the MIAA Board鈥檚 decision to revoke the OPS. We, therefore, believe that our additional submissions in November/December must be considered and we appeal to the Government for reconsideration on this matter,鈥� it further reads.
Two weeks ago, without explanation and reason for cause, into a world-class capital city airport.
Senator Grace Poe earlier said MIAA is scheduled to have another board meeting before the end of the year and the Department of Transportation (DOTr) said Megawide can still appeal or seek reconsideration.
Poe even expressed surprise over 鈥渢he unilateral decision to revoke Megawide鈥檚 original proponent status without seeking its side on the matter.鈥�
鈥淚 don鈥檛 know why you didn鈥檛 get their side from the beginning,鈥� Poe told MIAA during last week鈥檚 Senate hearing. 鈥淚f possible, instead of starting over, maybe you can give them a chance to rectify or clarify certain requirements.鈥�
The partnership of Megawide Corp. and India鈥檚 GMR Infrastructure 鈥� the world鈥檚 fourth-largest airport operator 鈥� was responsible for the internationally acclaimed Mactan-Cebu International Airport.
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