Gov’t to “redo” assumptions behind country’s big infra project
The government “will redo the assumptions” on the country’s biggest public-private partnership project because it has not attracted investors.
Public Works Secretary Mark Villar said Tuesday “ there were no takers. It’s not feasible as it was structured” of the Laguna Lakeshore Expressway Dike project, which is estimated to cost P122.8 billion.
"We want to use Laguna Lake as a possible alignment for a major infrastructure project,” he added.
On March 28 2016, the public works department declared failed bidding for the Laguna Lakeshore Expressway Dike project after qualified bidders did not submit offers, citing the project’s risk profile and complexity, especially the flood control component and its connectivity to C5.
The project involves constructing a flood control dike, an expressway on top of it, and the reclamation of over 700 hectares of land for commercial development.
The three pre-qualified bidders?San Miguel Holdings Corp., Alloy Pavi Harshen LLEDP Consortium and Team Trident?did not submit bids.
Team Trident is composed of Trident Infrastructure and Development Corp., Ayala Land Inc., Megaworld Corp., Aboitiz Equity Ventures Inc. and SM Prime Holdings Inc.
The Alloy-Pavi Hanshin LLEDP Consortium is made up of Malaysia’s Alloy MTD Capital Berhad, Prime Asset Ventures Inc. and Hanshin Engineering Construction.
The three prospective bidders said commercial viability is lacking in the project, which involves constructing a flood control dike, a 47-kilometer, six-lane expressway and the reclamation of over 700 hectares of land for commercial development.
There will be no government subsidy, except for right-of-way costs.
The LLED concession will last 37 years, including seven years for design and construction and 30 years for operation and maintenance. DMS