Category: Publication – The Star
The winner of the contract, the Philippines' most expensive road project under the PPP scheme so far, would be announced at a later date as bids would first be reviewed for technical evaluation, Public Works Secretary Rogelio Singson told investors during the auction yesterday.
Among those who submitted bids are a consortium formed by Ayala Corp and Aboitiz Equity Ventures Inc. and the grouping of Metro Pacific Investments Corp. DMCI Holdings Inc and Leighton Holdings Inc.
Besides the two groupings, San Miguel Corp and Malaysia's MTD also made bids.
The 35-year contract to finance, design, construct, and operate a 47km four-lane toll road connecting two expressways south of the capital is part of government efforts to address the South-East Asian nation's infrastructure backlog
The Asian Development Bank said in a report last year that the country needs US$20bil (RM65bil) annually in infrastructure investment to sustain economic growth, attract direct investment and alleviate poverty.
On Thursday, the government added two new infrastructure ventures to a pipeline of projects it will offer to investors under the PPP scheme.
A consortium formed by Ayala Corp, Metro Pacific and Macquarie Group submitted the lone bid last week for a 64.9 billion peso (RM4.89bil) project to renovate and extend Manila's oldest elevated railway, the most expensive PPP so far. – Reuters