'Super consortium' clear to bid for Laguna expressway dike project
MANILA, Philippines – The "super consortium" of Team Trident is one of the 3 groups that have been cleared to bid for the P123 billion ($2.8 billion) Laguna lakeshore expressway dike project the Department of Public Works and Highways (DPWH) said.
Team Trident or Trident Infrastructure and Development Corporation (TIDC) is composed of Aboitiz Equity Ventures Incorporated (AEV), property giant Ayala Land Incorporated (ALI), Megaworld Corporation of tycoon Andrew Tan, and SM Prime Holdings Incorporated of the country’s richest person, Henry Sy. The 4 publicly listed companies, with a combined market capitalization of about P1.6 trillion ($36 billion), will each have an equal 25% stake.
Team Trident, the unit of San Miguel Corporation (SMC), and Alloy-PAVI Hanshin LLED Consortium have all been prequalified by the agency's Pre-qualification Bids and Awards Committee (PBAC), DPWH undersecretary Rafael Yabut said in a text message.
The Alloy-PAVI Hanshin LLED Consortium is composed of Malaysia’s MTD Group, Prime Asset Venture Incoporated of the Villar Group, Korean Hanshin Construction Corporation, and Korea Rural Corporation.
SMC will be represented by wholly-owned subsidiary San Miguel Holdings Corporation.
Yabut also pointed out that the Rainbow Consortium would likely not participate in the bid, stating in a text message: “the DPWH is finalizing the pre-disqualification of the Rainbow consortium.”
The Rainbow Consortium is composed of Rainbow Holdings Incorporated, PT Nusa Konstruksi Enginiring Tbk, The no. 4 Metallurgical Construction of Company of China, and Shindong-Ah Construction Company Limited, among others.
The tentative schedule for the submission of financial bids is on July 6 and would be opened on July 27.
The DPWH hopes to award the project on August 21, paving the way for the signing of the concession agreement on September 20.
This is the biggest public private partnership (PPP) project so far rolled out by the Aquino administration.
It involves the construction of a 47-kilometer flood control dike on top of which will be a high speed six-lane expressway starting from Taguig, that passes through Muntinlupa and Calamba, and ends in Los Banos at its boundary with Bay, Laguna.
The project also includes the reclamation of about 700 hectares of foreshore and offshore areas, west of the dike, in Taguig and Muntinlupa. – Rappler.com
US$1 = P44.46