MANILA: Megawide Construction Corp on Tuesday emerged as the front runner to bag a contract to build and operate a 2.5 billion pesos ($56 million) transport terminal in the Philippine capital.
The Philippine company offered to undertake the project for an annual government subsidy of 100 million pesos for a period of 35 years, compared to the only rival bid of 650 million pesos by Filinvest Land Inc, a government official said.
The Department of Transportation and Communications (DOTC) is looking to announce the winner within the day, DOTC Undersecretary Jose Perpetuo Lotilla told reporters following the opening of sealed bids.
Manila's 4.6-hectare (11.3 acre) Integrated Transport System-Southwest Terminal is the 10th public-private partnership (PPP) project auctioned by the government seeking to accelerate economic growth by upgrading ageing roads, airports and ports.
Ten companies that bought application papers - including Ayala Land Inc, San Miguel Corp and Metro Pacific Investments Corp - did not submit bids.
The terminal is part of the PPP scheme targeted to help drive up economic growth to as much as 8.0 percent by 2016 from 7.3 percent in 2010 when the programme was launched.
The government has so far awarded eight infrastructure projects worth 127.5 billion pesos, three of which were bagged by Megawide. Megawide beat Filinvest Land for the 17.5 billion pesos Mactan-Cebu International Airport PPP project in 2013.
In October, President Benigno Aquino gave the go-ahead for a further $3.7 billion worth of infrastructure developments.
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