Megawide Construction Corp. (PSE: MWIDE) is set to commence the construction of Southwest Integrated Transport System (SWITS) in the last quarter (Q4) of 2016. The P3.5 billion project will allow the company to boost its foray into public-private partnerships (PPP).
SWITS seen to help decongest Metro Manila traffic
In a statement dated Sept. 16, Megawide announced the construction of the intermodal transport terminal will begin in time for the target completion in 2018. SWITS, the project along the Cavite Expressway (CAVITEX) in Parañaque City, is among the government’s long-term solutions to help decongest the worsening traffic in Metro Manila.
“We welcome this opportunity to be part of the solution to the ever-growing issue of traffic in Metro Manila by contributing our expertise in engineering and infrastructure-building,”Business World reported Megawide Chairman Michael Cosiquien as saying in a statement.
“Megawide also looks forward to sharing its experience in other proposed PPP projects,” Cosiquien added.
Megawide keen on investing for more PPP projects
Megawide is also keen to bid for more PPP contracts including airport and other renewable projects. This is in line with its target to leverage on the promise of the “Golden Age of Infrastructure” during the six-year Duterte administration, The Manila Times reported.
Aside from SWITS, Megawide in partnership with GMR Infrastructure Ltd., is also working on a number of PPP projects including the Terminal 2 of the P17.85-billion Mactan-Cebu International Airport (MCIA). The company took over operations of the airport in November 2014.
Megawide is also delegated to complete the Phase 2 of the Philippine School for Infrastructure Project (PSIP) after finishing its Phase 1 in April 2015. The company, which is engaged in the construction business, is currently beefing up its funds by at least P6 billion as it prepares to bid for the government’s five airport projects and other big-ticket contracts.
What do you think of Megawide’s plan to begin the construction of SWITS in Q4? Do you think it is a solution to ease the worsening Metro Manila traffic? Let us know in the comments section below.