MEGAWIDE Construction Corp. said it has received the notice of award from the Baguio City Government for the implementation of the P1.2-billion Baguio City Integrated Terminal (BCIT) project, expanding its transport infrastructure portfolio.
In a stock exchange disclosure on Monday, the listed engineering and infrastructure company said it had been confirmed because the private sector proponent for the project after successfully completing the Swiss challenge on Oct. 14.
Based on the Public-Private Partnership (PPP) Center, no other comparative challenge proposals were received by the deadline.
The award stays subject to the corporate’s compliance with the town’s conditions.
The project will probably be undertaken through a 40-year lease agreement with the Baguio City Government.
Based on Megawide, the BCIT is designed to accommodate as much as 25,000 passengers each day and initially serve seven southbound routes — La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila, and Cavite via the planned South Luzon Integrated Terminal Exchange (SLITX).
The power will rise on a five-hectare property in Barangay Dontogan, about five kilometers from Baguio City proper. The terminal goals to assist decongest major roads by relocating provincial buses and UV Express vans outside the central district.
“Our vision of a First World Philippines goes beyond constructing structures and demanding facilities — we also need to attach key districts across the country to advertise commerce and speed up economic activity,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in an announcement.
He said the corporate is working with local government partners that share the goal of promoting socio-economic development through improved mobility.
Megawide said the project forms a part of its broader plan to expand its network of transit-centric developments (TCDs) alongside the Parañaque Integrated Terminal Exchange (PITX) and SLITX.
Last month, the corporate’s subsidiary Megawide One Mobility Corp. signed a 30-year three way partnership agreement (JVA) with the Carmona City Government for the event of the P800-million SLITX, which may have a design capability of 30,000 passengers each day.
The planned SLITX will connect with PITX and other terminals in Metro Manila, with direct access to the South Luzon Expressway (SLEX) through a brand new toll entry and exit to be accomplished before operations begin.
“Landports equivalent to our PITX, BCIT, and SLITX, in addition to the continued Cavite BRT system, are a part of our objective to supply the general public with secure, secure, and efficient public transport while improving connectivity and mobility across key cities,” Megawide Head of Business Development Jaime Raphael C. Feliciano said.
He said the corporate expects its TCD portfolio to contribute P300 million to P400 million in recurring net income annually once full operations are achieved over the subsequent two to a few years.
Megawide earlier said it targets to post greater than P1 billion in net income by 2026, supported by recent contracts and recurring income from infrastructure operations. — Ashley Erika O. Jose