Uy eyes infra projects

Businessman Dennis Uy said his group was open to investing or participating in infrastructure projects under the government’s “Build, Build, Build” program, including a proposed railway project in Mindanao.

Uy, whose investments are mainly held through his flagship holding firm Udenna Corp., said the group remained flexible on such opportunities, apart from seaport projects that are being eyed via his recently listed Chelsea Logistics Holdings Corp.

“Yes. It depends on the opportunity,” Uy said in a previous interview when asked about participating in the Duterte administration’s plans to build Mindanao’s first railway system.

According to the government’s infrastructure online portal, the Department of Transportation is planning a Tagum-Davao City-Digos railway project, which has an estimated cost of P31.54 billion.

While funding, thus far, would come from the government, there was an option to bid out the operations and maintenance component later on via the administration’s hybrid public private partnership scheme.

The administration said the Tagum-Davao City-Digos railway would span 105 kilometers. It would be a major component of an 830-km “Mindanao Railway Network.”

“The Mindanao Railway will connect major cities, seaports, economic zones, allowing for faster transportation of passengers and freight,” the government said in its Build, Build, Build online portal.

The initial Tagum-Davao-Digos segment would serve around 100,000 passengers daily upon opening.

Uy, who owns Phoenix Petroleum Philippines Inc. and Chelsea Logistics, has been the subject of increased public attention, given his friendship with President Duterte and the string of high profile investments he closed over the last year.

Recent investments include Enderun Colleges, Petronas Energy Philippines Inc. and a stake in 2Go Group Inc.

Uy’s group is also building a $300-million integrated casino resort in Mactan Island, Cebu.