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The government of Philippines has appointed the US law firm Jones Day as transaction advisor for the P122.8-billion (US$2.8 billion) Laguna Lakeshore Expressway-Dike PPP project.
Jones Day will provide PPP transaction advisory support to Department of Public Works and Highways together with its sub-consultants ARC Developments International Pty Ltd. of Australia, Jacobs Engineering Group of USA, Puno and Puno Law Offices, and Engineering Development Corporation of the Philippines.
The team was appointed to conduct due diligence review of the project's feasibility study, manage the project's bidding process, prepare PPP transaction documents and provide advisory support to the Department of Public Works and Highways.
The PPP project is in the request for qualification (RFQ) stage. So far, 20 firms have registered to bid for the project. The firms that are involved in the tender process are the following:
Interested parties must submit their qualifications documents on or before 16 October 2014.
An invitation to pre-qualify for the project published on newspapers in late July showed the project consists of two parts, namely:
The project will be developed on a design, build, finance, operate and maintenance (DBFOM) basis for a period of 37 years. The concession agreement is scheduled to be signed by March 2015. Construction works are expected to start next year and the new road is expected to be finished by the end of 2021.
The tender process for the deal will consist of two stages. First, the government will qualify interested parties to submit proposals based on minimum legal, technical and financial requirements set by Department of Public Works and Highways (DPWH). After this, the project will be bid out to shortlisted bidders.
The project is the latest offered to investors under the government's flagship infrastructure PPP program. Eight PPP projects have been awarded, so far:
Five others have been rolled out: