How big businesses are betting big on Dutertenomics


Posted at Oct 12 2017 09:36 AM | Updated as of Oct 12 2017 12:34 PM

President Rodrigo Duterte inspects a power plant in Misamis Oriental. Malacanang photo

MANILA - Billionaire Andrew Tan has offered to build a monorail from one of the most cramped portions of EDSA to the Fort Bonifacio financial center, the latest tycoon to bet on President Rodrigo Duterte's P8 trillion infrastructure campaign.

Duterte's economic team has lined up an ambitious pipeline of projects under Dutertenomics, including the first ever subway in Metro Manila and railway in Mindanao. 

The infrastructure push is expected to generate 2 million jobs annually, while solving crippling traffic jams that cost the economy P2.4 billion in daily losses, according to a Japanese study.

Here's how big businesses are betting on Duterte's plan to bring Philippine infrastructure to the "golden age":

Metro Pacific Investments Corp, the conglomerate led by Manuel V. Pangilinan, secured a P8-billion credit line for potential investments in August. In June, it broke ground on the Cavite-Laguna expressway, which it is building with the Consunji group.

Aside from the expressway project, the Consunji group announced in June that it was putting up a P340-million cement business.

In September, the government awarded Metro Pacific the rights to build a toll road that will connect the North and South Luzon Expressways.

The Pangilinan group's most recent bet is a P20-billion proposal to run the MRT-3.

San Miguel President Ramon Ang, a campaign donor whom the President describes as a "fast friend," has announced plans to bid for a $2-billion flood control project in the capital, one of the biggest in the government infrastructure pipeline.

The Ang family's Eagle Cement also listed shares on the stock exchange this year and announced plans to double capacity by 2020.

Megawide Construction Corp said in July that it partnered with East-West Rail Transit Corp for a proposal to build the 9.77-kilometer PNR East railway Project from Quezon Avenue to España Boulevard.

In September last year, Megawide also started construction on a P3.5-billion transport terminal in Metro Manila. It is also part of a consortium that is building the new Cebu-Mactan international airport.

Companies such as cosmetics-maker Ever Bilena, luxury property developer Century Properties and Insular Life have expressed interest to take part in the infrastructure push.

Philippine Airlines, controlled by tycoon Lucio Tan, has offered to build a new terminal in the Ninoy Aquino International Airport worth P20 billion

The flag carrier also recently forged a P6-billion settlement with the government over alleged unpaid fees.