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Two more teams have purchased bid documents for the Laguna Lakeshore Expressway-Dike PPP project after the Philippine Department of Public Works and Highways (DPWH) extended, in late October, the deadline for the submission of pre-qualifications.
The agency had extended the deadline from 16 October 2014 to 14 January 2015.
So far, a total of 24 teams have purchased bid documents. The teams are the following:
The concession agreement is scheduled to be signed by March 2015 and the new project is expected to be operational by the end of 2021.
According to the invitation to pre-qualify, the project consists of two main parts:
The project will be developed on a design, build, finance, operate and maintenance (DBFOM) basis. The contract will have a period of 37 years.
The total project investment is estimated at P122.8 billion (US$2.73 billion), of whih P64.914 billion (US$1.44 billion) will be for the development of the 47-kilometer flood control dike - highway.
In early September this year the government of Philippines appointed US law firm Jones Day as transaction advisor for the project.Eight PPP projects have been awarded under the government's flagship infrastructure PPP program so far: