Philippines gets US$1.1 billion unsolicited proposal for floating bridge project

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Philippines gets US$1.1 billion unsolicited proposal for floating bridge project

The Philippines Department of Public Works and Highways (DPWH) has received an unsolicited proposal to develop a floating bridge between Mindoro and Batangas through a PPP model.

The proposed project involves the construction of a bridge that will link Mindoro Island to the Province of Batangas under the PPP framework. The proposed 15 km bridge would cover the 8.5 km distance from Mindoro Island to Verde Island and 6.5 km distance from Verde Island to Batangas, over a 10m - 300m water depth.

The total project investment is estimated at US$1.125 billion, US$75,000 per meter.

On May 06, 2015, DPWH informed the PPP Center of its intention to conduct the Business Case and its request to the National Economic and Development Authority (NEDA) for the inclusion of the project in the list of priority projects. Later NEDA included the Mindoro-Batangas Super Bridge in the list of priority projects.

On September 28, 2015, DPWH sent an electronic copy of the Japan International Cooperation Agency (JICA) Study on High Standard Highway Master Plan as requested by the Office of the Provincial Governor of Oriental Mindoro.

According to sources, the project will not be presented for the President's final approval in case the NEDA Board meets this month because there is no feasibility study on the project yet. Approval by the NEDA Board -- led by President Benigno S.C. Aquino III -- is the last regulatory hurdle before a PPP project is offered to potential partners from the private sector.

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