"The BOI has received some feelers that SNC Lavalin is intending to register its investments with the BOI," BOI managing head Gregory L. Domingo said yesterday.
Government sources said if SNC Lavalin managed to get BOI’s approval, the BOI’s investment figures for this year will be boosted substantially.
In the first five months of the year, BOI-registered investments plunged by more than 60 percent compared with last year’s figure.
SNC Lavalin is investing around $700 million in a combination build-operate-transfer (BOT) and build-operate-own (BOO) for the extension of the existing LRT transport system from Baclaran to Cavite.
SNC Lavalin, in a joint venture with the Light Railway Transit Authority (LRTA) will extend the LRT for another 12 kilometers from Baclaran, Parañaque to Las Piñas, then another 15.l kilometers from Las Pinas to Dasmarinas Cavite.
The initial 12-kilometer extension is projected to be completed before the term of President Arroyo ends in 2004. – Marianne Go