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 as the private sector proponent for the project after successfully completing the Swiss challenge on Oct. 14.
According to the Public-Private Partnership (PPP) Center, no other comparative challenge proposals were received by the deadline.
The award remains subject to the company’s compliance with the city’s conditions.
The project will be undertaken through a 40-year lease agreement with the Baguio City Government.
According to Megawide, the BCIT is designed to accommodate up to 25,000 passengers daily 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 facility will rise on a five-hectare property in Barangay Dontogan, about five kilometers from Baguio City proper. The terminal aims to help decongest major roads by relocating provincial buses and UV Express vans outside the central district.
“Our vision of a First World Philippines goes beyond building structures and critical facilities — we also need to connect key districts across the country to promote commerce and accelerate economic activity,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in a statement.
He said the company is working with local government partners that share the goal of promoting socio-economic development through improved mobility.
Megawide said the project forms 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 company’s subsidiary Megawide One Mobility Corp. signed a 30-year joint venture agreement (JVA) with the Carmona City Government for the development of the P800-million SLITX, which will have a design capacity of 30,000 passengers daily.
The planned SLITX will connect to PITX and other terminals in Metro Manila, with direct access to the South Luzon Expressway (SLEX) through a new toll entry and exit to be completed before operations begin.
“Landports such as our PITX, BCIT, and SLITX, as well as the ongoing Cavite BRT system, are part of our objective to provide the public with safe, 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 company expects its TCD portfolio to contribute P300 million to P400 million in recurring net income annually once full operations are achieved over the next two to three years.
Megawide earlier said it targets to post more than P1 billion in net income by 2026, supported by new contracts and recurring income from infrastructure operations. — Ashley Erika O. Jose
