Megaworld joins ‘super’ consortium bidding for Laguna Lakeshore project

PROPERTY tycoon Andrew Tan has joined three other local corporate giants to form a formidable consortium that will vie for the P123.8-billion Laguna Lakeshore Expressway and Dike Project (LLEDP), one of the biggest infrastructure projects to be offered by the Aquino administration under the public private partnership (PPP) framework.

It was earlier reported that holding firm Aboitiz Equity Ventures, Inc. (AEV) and two other real estate giants Ayala Land Inc. and SM Prime Holdings Inc. had agreed to work on the project. On Friday, it was revealed that this is a four-way consortium with Tan-led property firm Megaworld Corp. as the fourth member.

The four groups agreed to form Trident Infrastructure and Development Corp. (TIDC) and work together to pre-qualify for the LLEDP and evaluate the feasibility of the project. Dubbed as “Team Trident”, the four members will each have an equal share of 25 percent.

By pooling resources, these four corporate groups aim to submit a “competitive” bid proposal for the much-awaited LLEDP. The project involves the construction of a 47-kilometer expressway, a 45-kilometer flood control dike and the reclamation of around 700 hectares of land in the western part of Laguna Lake.

“Team Trident” seeks to combine the infrastructure expertise of the Aboitiz and Ayala groups as well as the reclamation and land development experience of Aboitiz, Ayala Land, Megaworld and SM.

“The consortium also benefits from the combined financial muscle and the national and international network of experts that the four companies have, which will be able to benefit millions of Filipinos and thousands of businesses along the western shore of Laguna de Bay,” the consortium said.

“Trident brings together the expertise, experience, financial strength, and network that is needed to successfully execute a project the size and scale of LLEDP,” it added.