GMR Megawide Cebu Airport has started construction of terminal 2 at the Mactan-Cebu International Airport (MCIA) in the Central Visayas region of the Philippines.
A joint venture of India-based GMR Infrastructure and the Philippines-based Megawide Construction, GMR Megawide is building the terminal under a 25-year build operate and transfer (BOT) contract.
GMR Infra, the designated operator of the airport, has been operating the airport since November 2014.
The total cost of the project is estimated to be around $700m, media reports said.
GMR Group business chairman airports Srinivas Bommidala said: "Given our impressive record of building Delhi airport and Istanbul airports in record time, we are confident that we will open T2 to passengers by mid-2018."
The expansion is expected to boost the airport's capacity from the current 4.5 million to 15.8 million passengers annually.
GMCAC president Louie Ferrer said: "In the past seven months, the existing terminal has undergone many changes which has greatly improved the experience of our passengers.
"The development of Terminal 2 and the expansion of MCIA will allow GMCAC to launch more direct international services to Cebu and expand the number of domestic connections such that Cebu becomes a major gateway into the Philippines."
Image: GMR Megawide is building the terminal at the Mactan-Cebu International Airport under a 25-year build operate and transfer (BOT) contract. Photo: courtesy of Gleb Osokin - Russian AviaPhoto Team.