Big guns eye P123-B lakeshore project

MANILA, Philippines - JG Summit Holdings Inc., Aboitiz Group, and three more companies have expressed interest in the Aquino administration’s largest public-private partnership (PPP) project.

PPP Center executive director Cosette Canilao said the five companies that bought bid documents for the P123 billion Laguna Lakeshore expressway dike project were JG Summit, Aboitiz, Megawide Construction Corp., PT Star Line, and State Properties Corp.

Canilao said the number of interested bidders in the PPP project went up to 19 as of end-August.

Interested bidders include diversified conglomerate San Miguel Corp. (SMC), the Lucio Tan Group, property giant Ayala Land Inc., infrastructure giant Metro Pacific Investments Corp. (MPIC), Megaworld Corp. of businessman Andrew Tan, GT Capital Holdings Inc. of taipan George Ty, Filinvest Land Inc. of taipan Andrew Gotianun, the Laguna Lakeshore Consortium led by the Wenceslao Group, JV Power and Wealth Corp., Macquarie Capital Securities, listed mining firm Minerales Industrias Corp.

Likewise, Philippine units of foreign firms including Egis SA of France, Leighton Contractors of Australia, and Muhibbah Engineering (M) Berhad of Malaysia are looking at the project.

The Department of Public Works and Highways (DPWH) has rolled out the Aquino administration’s biggest PPP project and has given interested companies have until Oct. 16 to submit their prequalification documents.

The National Economic and Development Authority (NEDA) approved the project last June 19. It aims to mitigate flooding in the Laguna Lake coastal towns, particularly in Southern Metro Manila and Laguna, improve the environmental condition of the lake, and promote economic activities through the efficient transport of goods and people.

The project will likewise provide opportunities for developing a new business and residential district in the reclaimed areas.

It involves the construction of a 47-kilometer flood control dike on top of which will be a high speed six-lane expressway running on a mainly off-shore alignment at least 500 meters away from the western shoreline of Laguna Lake, including pumping stations and floodgates.

The PPP project also includes the reclamation of about 700 hectares of foreshore and offshore areas, west of the dike, in Taguig and Muntinlupa.