Ayala reevaluates infra bidding strategy

Ayala Corp. is firming up its bidding strategy for infrastructure deals, including reevaluating a strategic joint venture for railways while looking to seal a partnership for a toll-road to Cavite and Laguna, managing director Eric Francia said Wednesday.

Ayala is in discussions with exclusive railways partner Metro Pacific Investments Corp. on how to proceed with the P60-billion Light Rail Transit Line 1 (LRT-1) extension deal after the Zobel-led conglomerate did not participate in an Aug. 15 auction that eventually failed, Francia said.

It was unclear whether Ayala would bid alongside Metro Pacific but Francia said their decision would depend on the final revised terms for the LRT-1 extension, which have yet to be released.

The Department of Transportation and Communications was looking into revisiting the terms of the LRT-1 extension after most bidders pulled out and it planned seek clearance with the National Economic and Development Authority (Neda) to do this, Transportation Secretary Joseph Abaya said last week.

“It is our assumption that the terms will be enhanced,” Francia told reporters at the sidelines of a business forum organized by ING Bank and the Economic Journalists Association of the Philippines Wednesday.

He also defended the company’s decision to back out of Metro Pacific’s bid, through Light Rail Manila Consortium.  Miguel R. Camus

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