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Metro Pacific Investments Corporation (MPIC) has emerged as the highest bidder for the P55.5-billion (US$1,238 million) Cavite-Laguna Expressway (CALAX) public private partnership (PPP) project in Philippines.
MPIC has submitted a premium bid of P27.3 billion (US$609.2 million), which is higher than the P22.2 billion (US$495.4 million) premium bid submitted by San Miguel Corporation.
Rafael Yabut, undersecretary of the Department of Public Works and Highways (DPWH), stated:
"The winner here is the Filipino people. The bid floor price is P20.1 billion to P27.3 billion, so it's worth waiting for it. The result says everything went all right for the government and the country. It's one big revenue for the government."
For the CALAX project, the private partner shall finance, design, construct, operate and maintain the 47 kilometers close-system toll expressway starting from the existing Cavite Expressway (CAVITEX) and ending at South Luzon Expressway (SLEX) Mamplasan Interchange in Binan, Laguna. This covers the 28.9 km Cavite Section from Kawit to Silang and the 18.1 km Laguna Section from Silang to SLEX.
On 16 June 2014 we reported that team Orion, formed by AC Infrastructure Holdings Inc., Aboitiz Land Inc., Macquarie Infrastructure Holdings Philippines, Bouygues Travaux, Egis Road Operations and Korea Expressway Corp, offered the highest bid for the project. Later DPWH indefinitely suspended the awarding of the project and in late November 2014 President of Philippines, Benigno Aquino III, ordered a rebidding of the project.
During the last two weeks we have reported about several PPP projects in Philippines: