PH's biggest PPP project gets int'l advisor
MANILA, Philippines - The government has tapped a renowned international law firm and project advisory company as transaction advisor for the P122.8 billion-Laguna Lakeshore Expressway Dike Public-Private Partnership (PPP) project.
The US law firm Jones Day was tapped to conduct due diligence review of the project's feasibility study, manage the project’s bidding process, prepare PPP transaction documents and provide advisory support to Department of Public Works and Highways.
Considered the world's third largest law firm, Jones Day will provide PPP transaction advisory support to DPWH together with its sub-consultants ARC Developments International Pty Ltd. of Australia, Jacobs Engineering Group of USA, Puno and Puno Law Offices, and Engineering Development Corporation of the Philippines.
Jones Day was hired through the PPP Center’s Project Development and Monitoring Facility (PDMF), a revolving pool of funds from the Philippine and Australian governments under technical assistance from the (ADB).
The Laguna Lakeshore Expressway Dike project has attracted at least 20 bidders, including Ayala Land Inc., Metro Pacific Tollways Corporation, Muhibbah Engineering BhD of Malaysia, JV Power and Wealth Corporation, Megaworld, Minerales Industrias Corporation, GT Capital, Leighton Contractors of Australia, Egis Projects S.A. of France, LT Group, Laguna Lakeshore Consortium (D.M. Wenceslao Group), Filinvest Land, Macquarie Securities (Phil.) Inc., San Miguel Corporation, Megawide Construction Corporation, Aboitiz Equity Ventures, JG Summit Holdings, PT Star Line of Indonesia, State Properties Corp., and Alloy MTD-Hashin-Vista Land Consortium.
Interested companies have until October 16 to submit pre-qualification documents for the project.
The Laguna Lakeshore Expressway Dike project has two components: road dike and land reclamation. A 47-kilometer flood control dike on top of which will be a high speed six-lane expressway will be constructed.
The expressway-dike will run on a mainly off-shore alignment at least 500 meters away from the western shoreline of Laguna Lake, including pumping stations and floodgates. It will start at Taguig, passes through Muntinlupa and Calamba, and end in Los Banos at its boundary with Bay, Laguna.
The project’s second component is the reclamation of about 700 hectares of foreshore and offshore areas, west of the dike, in Taguig and Muntinlupa, for mixed land uses. This component will support the private financing for the construction of the entire project, especially the expressway-dike.