Chinese, British, Japanese investors interested in PPP

MANILA, Philippines – Foreign investors remain interested in the Aquino administration’s public-private partnership (PPP) for infrastructure, the head of the PPP Center said.

Chinese, British and several Japanese investors have expressed interest in two of the 8 PPP projects that the government plans to roll out this 2012, according to Cosette Canilao, executive director of the government’s PPP Center.

“They have expressed interest in the NAIA and LRT projects,” Canilao said in a press conference after the 2012 mid-year Philippine Economic Briefing on Monday, September 17.

The PPP Center is preparing to bid out the $1.4 billion LRT Line 1 Cavite Extension and Operations & Management contract as well as the $377.5 million Ninoy Aquino Expressway Phase II road project.

Finance Secretary Cesar Purisima said PPP projects are expected to roll out at a faster pace now that the government has already cleared bottlenecks.

“We’ll launch at least 8 projects this year. We’ve resolved most of the bottlenecks already,” Purisima said.

These are the status of the remaining 6 of the 8 PPP projects:

• $466.8 million Cavite-Laguna Expressway (waiting for the National Economic and Development Authority (NEDA) Board approval)
• $128.3 million-worth Modernization of Philippine Orthopedic Center (waiting for Neda Board approval)
• $11.3 million Vaccine Self-Sufficiency Project Phase II (waiting for Neda Board approval)
• $480.5-million North Luzon Expressway-South Luzon Expressway Connector (for review of the Investment Coordination Committee)
• $38.1 million O&M of the Angat Hydro-Electric Powerplant Turbines 4 and 5 (for review of the Investment Coordination Committee)

The PPP scheme for infrastructure projects was the flagship program of the Aquino government launched in 2010. Reviews of contracts and other bottlenecks caused the delay of the project rollouts. – Rappler.com