Baguio city: Megawide Construction Corporation (Megawide) on Monday announced that it has secured the contract to construct the Baguio City Integrated Terminal (BCIT) project, valued at an estimated PHP1.2 billion. This initiative is a public-private partnership (PPP) endeavor.

According to Philippines News Agency, the listed firm disclosed to the Philippine Stock Exchange (PSE) that it received the Notice of Award on Friday, following the Swiss Challenge that took place from July 16 to October 14 this year.

"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. We are very thankful to our local government unit (LGU) partners for sharing our common goal and providing opportunities and platforms where socio-economic progress can thrive," stated Megawide Chief Executive Officer Edgar Saavedra.

The project will operate under a 40-year lease and is set to be constructed on a five-hectare plot currently under a usufruct agreement between the local government and the Bureau of Animal Industry of the Department of Agriculture, located in the village of Dontogan along Marcos Highway.

The terminal is expected to accommodate up to 400 buses daily and is slated for completion within two years. Upon completion, provincial buses will be restricted from entering Baguio City's central business district.