Published January 12, 2021, 6:55 AM
CEBU CITY (PNA) – Infrastructure developer Megawide Construction Corp. on Monday signed a joint venture agreement with the city government here for the P5.5-billion redevelopment package that will transform Carbon Public Market here into a commercially viable market hub.
MODERNIZATION DEAL. Vendors and market-goers converge along the Quezon Boulevard at Carbon Public Market’s fruit and vegetable section. (PNA photo by John Rey Saavedra)
In a press conference on Monday, Manuel Louie Ferrer, executive director for infrastructure development of Megawide, said the first phase of the project will involve the night market area near Compania Maritima up to the interior area of the market complex.
SunStar
+ January 11, 2021 MEGAWIDE Construction Corp. on Monday, Jan. 11, 2021, signed a joint venture agreement with the Cebu City Government for the phased redevelopment of the Carbon Public Market.
Megawide, parent firm of Mactan-Cebu International Airport (MCIA) concessionalre GMR Megawide Cebu Airport Corp., said in a disclosure that it will invest P5.5 billion in the project. Civil works will start in March 2021.
“Our target (groundbreaking) date is in March and tuloy-tuloy na (we will continue with the civil works),” Megawide chief corporate affairs and branding officer Manuel Louie Ferrer said.
The City Government, on the other hand, granted Megawide exclusive use and possession of the project site.