Megawide bags P1.2-billion Baguio City Integrated Terminal project

Megawide Construction Corp. on Monday said it has secured the Notice of Award to proceed with the implementation of the P1.2-billion Baguio City Integrated Terminal (BCIT) project, designed to accommodate 25,000 passengers daily.

According to Megawide, it received the Notice of Award last Friday, October 17, after the Swiss Challenge was concluded on October last Tuesday, October 14.

The project is set to be done under a 40-year lease agreement with the Baguio City government. It will serve seven initial routes including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila, and Cavite.

“We are very thankful to our local government unit (LGU) partners for sharing our common goal and providing opportunities and platforms where socio-economic progress can thrive,” Megawide chairman and chief executive officer Egar Saavedra said in a statement.

The latest development comes as Megawide, through its subsidiary Megawide One Mobility Corp., inked a joint venture agreement with the City Government of Carmona, Cavite for the development of South Luzon Integrated Terminal Exchange (SLITX) in September.

The SLITX joint venture is under a 30-year agreement with the local government unit, with an estimated project cost of P800 million. It will connect to the Parañaque Integrated Terminal Exchange (PITX), and will also have direct access to the South Luzon Expressway (SLEX).

“Landports, such as our PITX, BCIT, and SLITX, as well as the ongoing Cavite BRT (bus rapid transit) system, are part of the grand objective to provide the public with safe, secure, and efficient public transport while improving connectivity and enhancing mobility across key cities, initially in Luzon,” Megawide head of business development Jaime Feliciano said.

“In terms of financial impact, collectively, we are looking at an annual recurring net income contribution of P300 to P400 million from these transit-centric developments once operations reach full scale over the next two to three years,” he added. — BM, GMA Integrated News