MANILA, Philippines – GT Capital Holdings of business tycoon George Ty has expressed interest in the government’s P123 billion Laguna Lakeshore Expressway-Dike project.
The public-private partnership (PPP) project of the Department of Public Works and Highways (DPWH) aims to mitigate flooding, improve transportation, and provide new opportunities for business.
Citing the company’s expertise in the project’s real estate and reclamation components, GT Capital president Carmelo Bautista said the company is interested to participate in the infrastructure project.
“The newly announced Laguna Lakeshore is interesting because of the synergies for us,” Bautista said.
GT Capital vice president Alfred Ty said the company is mulling partnerships with foreign and local investors for the venture.
“We are not averse to getting foreign partners to take advantage of their expertise,” Ty said.
Earlier, Ayala Corp and Metro Pacific Investments Corp also expressed interest in the project.
The DPWH has said that it will bid out the project before the end of 2014.
The Aquino administration’s biggest PPP project involves the construction of a 47-kilometer flood control dike to prevent flooding in the western coastal communities along Laguna Lake, particularly in southern Metro Manila and Laguna.
A 6-lane expressway starting from Taguig and ending in Los Baños will also be constructed to ease traffic congestion and provide an alternate route going to and from Laguna. The expressway will run on a mainly off-shore alignment 500 meters away from the lake’s western shoreline. – Rappler.com