Megawide Construction Corp. said Monday it was awarded the P1.186-billion Baguio City Integrated Terminal (BCIT) Project by the local government of Baguio City.
The BCIT will operate under a 40-year lease agreement with the Baguio City government. The terminal is designed to initially accommodate 25,000 passengers daily, including long-haul and daily commuters and is initially targeted to serve seven southbound routes, including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila and Cavite.
The award is contingent on Megawide’s compliance with all conditions set by the city government.
The project adds to the company’s transport and infrastructure portfolio, which includes the developed and operated Parañaque Integrated Terminal Exchange (PITX), described as the country’s first “landport.”
Megawide, through its subsidiary Megawide One Mobility Corp., also recently signed a joint venture agreement with the city government of Carmona, Cavite for the development of the South Luzon Integrated Terminal Exchange (SLITX) and is developing the P1.87-billion Cavite bus rapid transit system.
“Our vision of a First World Philippines goes beyond building structures and critical facilities—we also need to connect the key districts across the country to promote commerce and accelerate economic activity,” said Megawide chairman and chief executive Edgar Saavedra.
The company expects these transit-centric developments (TCDs) to complement PITX operations and provide fresh recurring revenue streams. Jaime Feliciano, head of business development for Megawide, expects these TCDs to generate an annual recurring net income contribution of P300 million to P400 million over the next two to three years.
Feliciano said these “landports, such as our PITX, BCIT and SLITX, as well as the ongoing Cavite BRT system, are part of the grand objective to provide the public with safe, secure, and efficient public transport while improving connectivity and enhancing mobility across key cities, initially in Luzon.”
 Project under a 40-year lease, expanding its portfolio of transit-centric developments in the Philippines.){kind=link}