AlloyMTD Philippines, Inc. President Isaac S. David said in a text message yesterday: “We’ll look at the Laguna de Bay expressway if we can find a suitable real estate developer partner.”
The biggest public-private partnership (PPP) project under the Aquino administration to date has also drawn interest from Metro Pacific Investments Corp. (MPIC).
The project concept is for 47-kilometer flood control dike to carry on its top surface a high-speed six-lane expressway, running offshore at least 500 meters from Laguna de Bay. It is intended to divert traffic from the heavily traveled Bicutan-Calamba corridor, which abuts important tracts of residential, commercial and industrial land in southern Metro Manila.
Highway access and the placement of exits is especially crucial to property values in the southern suburbs, where most of the traffic goes through only two major roads -- the South Luzon Expressway on the Laguna side and Coastal Road on the Cavite-Las Piñas end.
A partner from the property industry would give AlloyMTD a better idea of how much to offer, based on potential profits from the real estate side, which may not figure in the thinking of groups focused on pure infrastructure.
Mr. David added that AlloyMTD is also pursuing several PPP projects at the local government unit level and power generation-related projects, but did not provide details.
Metro Pacific Tollways Corp. was the first to express interest in the project.
Its President Ramoncito S. Fernandez said on June 17 that the group is “interested” in the lakeshore expressway project, adding that “it is a very ambitious project” that enjoys Public Works Secretary Rogelio L. Singson’s strong backing.
The lakeshore expressway was approved on June 19 by the National Economic and Development Authority (NEDA) Board, chaired by President Benigno S. C. Aquino III.
The project was discussed at the NEDA Board meeting on May 29, but was not approved due to environmental and technical concerns, such as the height of the dike, the impact on water circulation in Laguna de Bay and the placement of pumping stations.
Mr. Singson said in a text message last Friday that the Department of Public Works and Highways “will issue terms of reference and bid by December this year, while its construction is expected to commence in late 2015 and end in 2021.”
PPP Center Project Manager Ramoncito C. Jimenez has said that the start of the design and construction phase is set in April 2015, and is expected to be operational by 2022. -- Chrisee Jalyssa V. dela Paz
source: Businessworld
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