8 groups vie for P123-B PPP project

Categories: Business Updates

Date Posted: 12 Aug 2014

The Aquino administration’s next big-ticket public private partnership (PPP) deal, the P123-billion Laguna Lakeshore Expressway Dike, is drawing early interest from some of the country’s biggest business groups, including those led by first-time PPP investors like tycoons George Ty and Andrew Tan.

PPP Center executive director Cosette Canilao said in a text message Monday that at least eight groups have acquired pre-bid documents for the massive deal. It mainly involves the construction of a 47-kilometer tollroad and flood control dike and the reclamation of about 700 hectares near Muntinlupa and Taguig, making the project also attractive to property developers.

Canilao said the companies that acquired pre-bid documents included Ayala Land Inc., Ty-led GT Capital Holdings, which owns builder Federal Land Inc., and Tan’s Megaworld Corp. Manuel V. Pangilinan-led Metro Pacific Investments, which operates North Luzon Expressway and Manila Cavite Expressway, is also keen as well as listed Minerales Industrial, she said.

The foreign groups vying for the project included Malaysia’s Muhibbah Engineering, which claims to be a leader in Marine Construction, and Australia’s Leighton Contractors, Canilao said.

The Department of Public Works and Highways, which is implementing the project, said interested groups have until Oct. 16 to submit their prequalification documents.

As noted, apart from building a tollroad and land reclamation, the PPP deal is aimed at mitigating the flooding in western coastal communities along the lake.
Written by: Miguel R. Camus

Source: http://business.inquirer.net/176428/8-groups-vie-for-p123-b-ppp-project

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