Uh-oh. In the first ever attempt of the Aquino (Part II) administration to make a go of its much-vaunted PPP program—now three years in the making and nothing yet happening—it looks like the guys down here must take the hardest blow.
South Luzon Tollway Corp. (SLTC) has formally objected to the decision of the Department of Public Works and Highways to allow last-minute changes in the design of the Daang Hari road project without securing the approval of all involved parties.
The Metro Pacific group has submitted an improved offer for the operation and management of the Subic-Clark-Tarlac Expressway (SCTEx), based on terms recently renegotiated with the state-controlled Bases Conversion and Development Authority.
Infrastructure holding firm Metro Pacific Investments Corp. has created a task force to review potential new investments in the water and toll road businesses here and abroad.
Eight months after the renegotiation of a new contract for the operation and management of the country’s longest expressway, Subic-Clark-Tarlac Expressway (SCTEx), it seems that the group of businessman Manuel V. Pangilinan (aka MVP) is still nowhere close to getting Malacañang’s imprimatur. The contract has been signed last year but hasn’t taken effect in the absence of such an approval.
San Miguel Corp.-backed Citra Metro Manila Tollways Corp. (CMMTC) said only “ambitious” projects, such as its proposed overhead toll road, could solve big problems like the chronic congestion of Metro Manila’s thoroughfares.
Talks about the group of Manuel V. Pangilinan buying out broadcasting giant GMA Network Inc. have been so pervasive that many stock market pundits now believe there’s some truth to it. This all began when MVP was seen in a serious huddle with GMA chair Felipe Gozon at the wake for the latter’s mother in December, which was followed by a Twitter frenzy that erupted in the show-biz world.
With rumors rife that Energy Secretary Rene Almendras is about to be appointed secretary to the Cabinet, word is now going around that his replacement at the energy department has been chosen as well.
The Ayala group has bagged the P2-billion Daang Hari-South Luzon Expressway link road, the very first infrastructure-building project auctioned by the Aquino administration under the much-awaited public-private partnership (PPP) framework.
UEM Mara Philippines Corp.—the operator of the Cavite Toll Expressway Project (Cavitex)—is confident that its continuing development of the road would lead to higher traffic volumes and revenues, allowing the company to meet financial obligations amounting to billions of pesos.
