Megawide to build P1.186-B Baguio transport hub

Megawide Construction Corp. has secured the P1.186-billion Baguio City Integrated Terminal (BCIT) project after emerging successful in a Swiss Challenge. 

In a disclosure on Monday, the company said it received the Notice of Award from the Baguio City Government on 17 October, confirming its selection as the Private Sector Proponent for the project, subject to compliance with the conditions of the award.

The terminal will be developed under a 40-year lease agreement with the Baguio City Government.

“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,” Megawide chairman and CEO Edgar Saavedra said. 

The BCIT is initially designed to serve seven southbound routes, including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila, and Cavite via SLITX. It is expected to handle up to 25,000 passengers daily, covering both long-haul and daily commuters.

Last month, its subsidiary Megawide One Mobility Corp. also signed a 30-year Joint Venture Agreement with the Carmona City Government in Cavite for the South Luzon Integrated Terminal Exchange (SLITX), a P800-million project with an initial capacity of 30,000 passengers per day.

SLITX will serve destinations from Baguio in the north, through BCIT, to the Visayas and Mindanao in the south. It will also be linked to Metro Manila through direct access to the South Luzon Expressway (SLEX) and connectivity to the Paranaque Integrated Terminal Exchange (PITX).

“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,” Jaime Feliciano, Megawide's head of business development, said.

Feliciano said Megawide estimates that the transit-centric developments, including PITX, BCIT, and SLITX, could generate a combined annual recurring net income of P300 million to P400 million once full operations are reached in the next two to three years. 

Megawide, which recently secured multibillion-peso contracts and completed a P4.9-billion share transfer, is targeting over P1 billion in net income by 2026.