Government approves funding for proposed UPLB agro-industrial, IT park project

MANILA, Philippines — The government has approved the provision of pre-investment support for the agro-industrial and information technology parks proposed by the University of the Philippines Los Baños (UPLB) as a public-private partnership (PPP) project.

The PPP Center announced that the multi-agency Project Development and Monitoring Facility (PDMF) Committee  approved  last May 30 the provision of project preparation and transaction support for UPLB’s agro-industrial and information technology parks project.

The approved PDMF support for this project will cover the conduct and financing of the project feasibility study and project structuring, preparation of bid documents and assistance during the PPP bidding process and assistance and advisory until financial close.

This project involves the development of a 70-hectare special economic zone that comprises an agro-industrial park and an information technology park.

Specifically, the complexes will house infrastructure that will support partnership projects between the academe and industries aimed at developing innovative products and services.

These include the proposed Institute of Plant Breeding, Biotech-Philippine National Collection of Microorganism, and the National Crop Protection Center.

“The project aims to play an active role in providing space for the academic community and industry with world-class facilities that support academic, research, and innovative collaboration and engagements,” the PPP Center said.

As this is a PPP project, the private sector partner will operate, and maintain infrastructure facilities, utilities, communication system, sewerage and drainage systems, garbage collection system, and other amenities.

Since 2010, 17 PPP projects with a total project cost of P328.67 billion had been awarded to private sector partners, 12 of which received PDMF support.

A total of 37 projects have so far received PDMF support for project development, transaction advisory, and/or monitoring services.

The PDMF committee is the approving body for project support applications to the PDMF, a revolving fund managed by the PPP Center used to develop bankable PPP projects and ensure effective monitoring of project implementation.

The service is available to all national and local government units of the Philippines.

The PDMF committee is composed of the National Economic and Development Authority, Department of Budget and Management, Department of Finance and the PPP Center.