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P26B in PPP deals await final OK

/ 12:22 AM October 16, 2015

THREE public private partnership infrastructure deals valued at about P25.8 billion have moved a step closer to final approval, after getting the go-ahead from the Investment Coordination Committee-Cabinet Committee.

Big-ticket deals approved on Wednesday were the Batangas-Manila (BatMan) 1 Natural Gas Pipeline project of Philippine National Oil Co. (PNOC) and the Plaridel Bypass Tollroad of the Department of Public Works and Highways, the PPP Center said on Thursday.

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Also approved was the Philippine Travel Center of the Department of Tourism (DOT), the first PPP project of the agency under the Aquino Administration, it said.

The three projects would still need the final approval by the board of the National Economic and Development Authority, which is chaired by President Aquino.

The move signals that projects continue to move forward under the PPP Program, which was established to tap private sector support in infrastructure spending. The requirements remain large, with the Asian Development Bank estimating that the country needs to spend about $127 billion between 2010 and 2020, alone.

The PPP Center said the P1.747-billion Philippine Travel Center Complex (PTCC) project involves the financing, design, construction and maintenance of a mixed-use, multimodal complex that will house various tourism-related agencies in Intramuros, Manila.

“This is envisioned to house all transactions related to travel and tourism in a single complex. This will also improve the delivery of government services and further increase the ease of doing business,” it said.

The P9.387-billion Plaridel Bypass Toll Road is a 23.3-kilometer road from the Balagtas interchange in North Luzon Expressway (NLEx) to San Rafael, Bulacan.

The road project traverses five municipalities of Bulacan: Balagtas, Guiguinto, Plaridel, Bustos and San Rafael. It involves the conversion of the existing road into a toll road.

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TAGS: Budget, Business, Construction, highway, Infrastructure, PPP, project, public-private partnership, road
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