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GMR Infrastructure’s JV amends financing documents of Mactan Cebu International Airport

27 Jan 2015 Evaluate

GMR Infrastructure’s JV - GMCAC has amended its financing documents of its Mactan Cebu International Airport located in Cebu, Philippines to include ADB to fund the project. The financing will fund 70% of its total project cost of Php 33 billion (approximately $750 million). ADB will fund $75 million of this as a portion of its share in the funding. The loan is now being financed by a consortium of seven banks including ADB.

GMCAC shall be responsible for construction, development, renovation, expansion and operation of the Mactan Cebu International Airport for a period of 25 years as provided in the concession agreement.

GMR-Megawide Cebu Airport Corporation (GMCAC) is a joint venture (JV) between GMR Infrastructure (40% shareholding) and Megawide Construction Corporation (60% shareholding).

GMR Airports Share Price

96.87 0.11 (0.11%)
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Company Name CMP
Dreamfolks Services 85.30
GMR Airports 96.87
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