Megawide Construction, which bagged the construction project of the new Mactan-Cebu International Airport, has announced a capex of PhP 2 billion in 2015, most of which will be spent to roll out its airport venture. The amount is three times the allotted spending in 2014, which was pegged at PhP 600 million-PhP 700 million. The proposed capex will be used mainly to fund its subsidiary, GMR-Megawide Cebu Airport Corporation, its JV with Indian airport operator GMR Infrastructure, that won the PhP 17.52 billion Mactan Cebu International Airport passenger terminal building project.
