MEGAWIDE Construction Corp.'s unsolicited offer to handle the operations and maintenance of the EDSA Busway project has been returned to the firm by the Department of Transportation (DoTr).

"We returned the proposal to them because we wanted to know more and nakita namin na (we saw that) it will be faster to do [a] solicited [bidding]...," Transportation Secretary Jaime Bautista said.

Megawide, whose offer was endorsed last month by the government's Public-Private Partnership (PPP) Center, indicated could go the solicited bidding route.

"The DoTr wants to go through the solicited proposal process, which Megawide is very familiar with, having won projects under the bidding scheme such as the MCIA (Mactan-Cebu International Airport) and PITX (Parañaque Integrated Terminal Exchange)," Megawide Chief Business Development Officer Jaime Feliciano said in a text message to The Manila Times.

"We are waiting for the terms of reference from DoTr before deciding on our next move," he added.

Bautista, who earlier this year said that the department favored solicited bidding, reiterated that the approval and awarding process of unsolicited offers would take more than one year compared to less than a year under a solicited mode.

The government plans to bid out the project next year.

The NCR EDSA Busway Project involves the financing, design and construction of enhanced bus stations, operations control centers and parking depots and the purchase, operations and maintenance of a high-capacity busway plying through EDSA and other major and feeder roads.

It is expected to enhance the existing EDSA Carousel operations to address the high demand for transportation services along the median of highway and feeder roads by increasing capacity and service reliability.

The project is currently listed as under development on the PPP Center website. It is also marked as to be procured under the solicited mode.

The DoTr and the PPP Center on March 8, 2024 launched a market sounding activity to engage potential private sector partners for transport infrastructure projects.

It sought to provide an overview of the proposed PPP project, gather initial feedback and insights from the private sector and identify potential issues or concerns affecting the project viability.

The potential scope of responsibility of the private sector partner could encompass financing, design, construction, operations and maintenance of upgraded bus stations and facilities, procurement of bus fleet, and operations and maintenance of busway systems, the agency said.

Megawide shares closed three centavos lower, or 0.97 percent, at P3.07 apiece on Friday amid a 0.14-percent rise for the benchmark Philippine Stock Exchange index.