MANILA -- The board of First Philippine Holdings Corp. on Friday formally approved of the company taking part in the auction of the P17-billion Mactan-Cebu International Airport project.
In a disclosure, the Lopez-led firm said its board approved "[t]he participation of FPH, through a consortium, in the pre-qualification and bidding for the financing, design, construction, operation and maintenance of the Mactan-Cebu International Airport Passenger Terminal rehabilitation and expansion project."
FPH has been previously reported to have bought pre-qualification documents for the airport project.
The company will be going against the consortium of San Miguel Corp. and tycoon Lucio Tan's group; Manuel V. Pangilinan's Metro Pacific Investments Corp. and Gokongwei's JG Summit Holdings Inc.; Filinvest Development Corp. and Filinvest Land Inc.; Prime Power Holdings Corp.; and Premier Airport Group of SM Investments Corp. in bidding for the project.
Earlier, Ayala Corp. has announced it will be joining the auction through a partnership with the Aboitiz group. Megawide Construction Corp., meanwhile, will be teaming up with India's GMR Infrastructure Ltd. in bidding for the project.
The Mactan-Cebu International Airport project is expected to be bid out within the first half of the year.
The project will increase the airport's capacity to 8 million passengers a year from the currently 4.5 million annually. The expansion efforts come as the number of tourists at the Mactan-Cebu airport reached 6.2 million in 2011.