The Philippine Government last week rolled out its biggest public-private partnership (PPP) project inviting parties to bid for the P122.8-billion ($2.73-billion) Laguna Lakeshore Expressway-Dike PPP project.
An invitation to pre-qualify to bid, published in newspapers last week, showed the project consists of two parts, namely:
- construction of a 47-kilometer flood control dike -- on top of which will be a six-lane expressway -- from Taguig City to Los Baños for about P64.914 billion; and
- reclamation of 700 hectares west of the expressway-dike for about P57.897 billion "to... create opportunities for developing a new business and residential area on reclaimed land, to enhance regional and urban development".
According local sources, the design, build, operate and maintain contract will have a 37-year term. The PPP Center has not published the digital advertisement yet.
Interested parties can start buying pre-qualification bid documents today for a non-refundable fee of P200,000 and Pre-qualification documents should be submitted by 1 p.m. on Oct. 16.
The Public Works department is looking to award the project this December. A concession agreement is targeted to be signed by March 2015, with construction to start late next year and finish in 2021.
Top officials of Megawide Construction Corporation, MTD Philippines, Aboitiz Equity Ventures, Ayala Corp.'s AC Infrastructure Holdings and San Miguel Corporation have confirmed their interest in the project to the local press.
The project is the latest offered to investors under the government's flagship infrastructure PPP program. Seven PPP projects have been awarded, so far:
Five others have been rolled out: