Laguna Lakeshore Expressway project is in the hands of Mark Villar. Find out why
The son of Bilyonaryo Manny Villar will decide if the P122.8-billion Laguna Lakeshore Expressway will go for a second round of bidding or start from scratch.
Public-Private Partnership (PPP) Center Executive Director Andre C. Palacios said that his group was keenly awaiting Public Works Secretary Mark Villar’s action on the soon-to-be-finished study of his department on the country’s second largest PPP project.
“If the study will show the three parts can go together [and] it still can be financed by private [sources] and Secretary Villar says OK, let’s go ahead, he still has that NEDA Board approval; it’s still good,” Palacios said in a report by BusinessWorld.
Palacios said Villar could opt to scuttle the private financing or bid out only part of the the project’s three components — road, reclamation, and flood control.
“He’ll have to go back to NEDA Board, [if] there’s a change in the project terms,” added Palacios.
The bidding for Laguna Lakeshore failed in March 2016 as prospective bidders got cold feet and didn’t make an offer.
The prospective bidders were Alloy Pavi Hanshin LLEDP Consortium (composed of Alloy MTD Capital BHD, Prime Asset Ventures Inc., Hanshin Engineering Constructions), San Miguel Holdings Corp. and Trident Infrastructure and Development Corp. (made up of Aboitiz Equity Ventures Inc., Ayala Land Inc., Megaworld Corp. and SM Prime Holdings Inc.).
Bilyonaryo Ramon S. Ang said the government’s terms made the project unfeasible.
“Government will have to re-examine its assumptions and redesign a mutually beneficial contractual structure best suited for a deal as large and complex as this one, given its potential to create opportunities that will generate the greatest benefit to a lot of people,” Ang said.