LAPU-LAPU CITY, Cebu - Filipino-Indian consortium GMR-Megawide is set to submit a US$4 billion proposal to build a second runway and a third terminal for the Mactan Cebu International Airport (MCIA), Megawide Chairman Edgar Saavedra said on Thursday, hours after the inauguration of the airport's new resort-like terminal 2 here.

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"Now we're already at 11 million [passengers per annum]. When you reach 15 million per year [passenger] traffic, typically, you have to plan for the second runway," Saavedra told ABS-CBN News.

The unsolicited proposal is a 9-year project that will be done in 3 phases.

Builders will first have to construct an emergency runway on the existing tarmac, then reclaim land where the second runway will be built, Saavedra said.

"We have to reclaim land because Mactan is a small island. We do not have enough land," he said.

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Once the second runway is built, a third terminal will be constructed to cater to more flights and passengers, he added.

In March, the GMR-Megawide partnership submitted a $3-billion proposal for the rehabilitation of the Ninoy Aquino International Airport in Metro Manila.

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It is competing against a "super consortium" composed of 7 big conglomerates in the Philippines for the rehabilitation of the country's main airport in the capital.

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"Right now, we still don't know the direction of the government. If they want to negotiate with the super consortium, then we will just focus on other airports," Saavedra said.

GMR-Megawide is set to refurbish the MCIA's Terminal 1, and is bidding for the rehabilitation of Clark airport in Pampanga.

"We [Philippines] were left behind in infrastructure in the past 20 years. We have 88 airports here but a lot of them are not in good shape. I think this is the right time for us to build more infrastructure," Saavedra said.