Megawide sticking to basics

Megawide Construction Corp. will continue to concentrate on "basic" government infrastructure projects that will provide more benefits to the people, even as it does not see an immediate upside to tourism projects, particularly airport privatization, according to Megawide vice chairman Louie Ferrer.

- MARIANNE GO

In an interview last Friday during a belated holiday party, Ferrer revealed that Megawide is opting, for the immediate future, to focus on the "basics" such as its social infrastructure projects that include public school buildings, improving public market infrastructure, socialized housing and hopefully helping improve our public transport infrastructure through a long-proposed BRT or Bus Rapid Transit system for Mega Manila's major thoroughfare and another for Cavite, which would connect with Megawide's successful Parañaque Integrated Transport Exchange or PITX.

Megawide, which gained its stripes in the competitive Philippine infrastructure sector from its bold bid to modernize the Mactan International Airport in Cebu, has earned glowing international praise and impressed the Philippine business sector on its ability to execute and manage the Cebu airport.

Its Mactan airport project has since been taken over by the powerful Aboitiz Group. Another airport project, the Clark International Airport in Pampanga has also received praise for its design, but unfortunately has not reached its profit potential due to a continued preference for the Ninoy Aquino International Airport and the lack of a quick transport alternative to Mega Manila, as plans for a railway connection remain delayed.

Ferrer, thus, admits that Megawide does not see any immediate upside or profit in bidding for any new government airport privatization projects "because the tourism arrival figures are not there." He further points out that while there are interested foreign tourists, the current tourist market is not the high-spending segment like the Chinese market, which is staying put due to China's current economic slowdown.