SMC to lead bidders for P123-B Lakeshore project

MANILA, Philippines - Groups led by diversified conglomerate San Miguel Corp. (SMC) are expected to bid for the P123 billion Laguna Lakeshore expressway and dike project, while other companies remained undecided as the deadline for the submission of qualification documents nears.

A source said SMC would submit qualification documents for the Aquino administration’s biggest public private partnership (PPP) project to the Department of Public Works and Highways (DPWH) on Friday.

“Yes we will submit documents for prequalification,” the source added.

SMC has been focusing on toll road projects including the P15.5 billion Ninoy Aquino International Airport (NAIA) expressway project through Vertex Tollways Development Inc., the P24 billion Tarlac-Pangasinan-La Union expressway (TPLEX) through Philippine Infrastructure Development Corp. (PIDC), and the P26.5 billion Metro Manila Skyway Stage 3 project via Citra Central Expressway Corp. (CCEC).

SMC also has interest in the Metro Manila Skyway through Citra Metro Manila Tollways Corp. and the South Luzon Expressway (SLEX).

The company has successfully convinced Malacañang to order the rebidding of P35.4 billion Cavite - Laguna expressway (Calax) after its unit Optimal Infrastructure Development Inc. (OIDI) was disqualified by the DPWH. The unit submitted a bid of P20.015 billion that is now the floor price approved by the National Economic and Development Authority (NEDA).

MTD Alloy president Isaac David said the company has formed a consortium together with former Sen. Manuel Villar composed of local and foreign partners to increase the group’s chance of bagging the major PPP project.

“Yes our team composed of the Villar Group and Korean reclamation developer Hanshin Construction Corp. and Korea Rural Corp. will submit prequalification documents,” David said in a text message.

Metro Pacific Tollways Corp., a unit of infrastructure giant Metro Pacific Investments Corp. (MPIC) led by businessman Manuel V. Pangilinan, is not inclined in joining the bidding for the PPP project.

MPTC president Ramoncito Fernandez said in a text message that the project faces technical, commercial, and even regulatory risks.

“We are not inclined to participate. Too many risks - technical, commercial, and regulatory,” Fernandez said.

“We haven’t really decided yet,” said Megawide Construction Corp. chief finance officer Louie Ferrer.

The Ayala Group, including property giant Ayala Land Inc., on the other hand, it had no comment on the bidding process.

“We have no comment till bid date,” Ayala’s AC Infrastructure Holdings Corp. executive vice president Noel Kintanar said.

A total of 24 companies have expressed interest in the largest PPP project rolled out so far by the government. Other companies interested include JG Summit Holdings Inc. of taipan John Gokongwei, the Lucio Tan Group Inc., Megaworld Corp. of businessman Andrew Tan, GT Capital Holdings Inc. of taipan George Ty, Filinvest Land Inc. of taipan Andrew Gotianun, and Aboitiz Equity Ventures.