Unsolicited proposal for US$420 million expressway project in the Philippines approved
The Government of the Philippines' Department of Public Works and Highways (DPWH) has granted Metro Pacific Investments Corp. original proponent status (OPS) for the Cavite-Batangas-Tagaytay expressway (CBTEX)) PPP project. The company submitted an unsolicited proposal to design, build, finance, operate and maintain a 50.42km expressway linking the provinces of Cavite and Batangas via Tagaytay City in June last year. The total estimated investment is PHP22.43 billion (US$422.6 million).
The project will now be submitted for approval to the National Economic and Development Authority (NEDA) and negotiation with DPWH on the terms of the concession. Following this, it will be subjected to a Swiss Challenge, whereby other companies will be invited to submit bids. Presuming that this will be completed by Q2 2019, Metro Pacific is targeting to commence construction in 2020.
Country updates
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July 22, 2018
Chelsea and Aboitiz submit a new unsolicited proposal for the development of Visayas and Mindanao airports
The Philippines' Department of Transportation has announced that Chelsea Logistics Holdings Corp. and the Aboitiz Group have submitted new unsolicited proposals to develop and maintain N...
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July 15, 2018
Century Peak concludes negotiations on unsolicited proposal for PPP project in Cavite
Century Peak Metals Holdings Corp has disclosed that its subsidiary Century Peak Corp. (CPC) has concluded detailed negotiations with the government of Cavite regarding the company's unsolici...
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July 07, 2018
Expressway PPP in the Philippines enters construction phase
Construction of the Cebu-Cordova Link Expressway (CCCLEX) has commenced, following an official ceremony. The 8km expressway will function as the third bridge between Cebu City and Mactan Isl...
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July 02, 2018
IRC consortium cleared for Makati subway PPP
The Government of the Makati City has granted original proponent status to the unsolicited proposal of Philippine Infradev Holdings Inc (former IRC Properties Inc.) to establish and operate...
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June 09, 2018
The PDMF Committee has approved funding for preparation of feasibility studies, project delivery options and structuring, and transaction advisory during the bid process for the project up to financial close
