Push Admin

Article (news)

No bidders for Laguna Lakeshore project

ABS-CBN News

<figure class="op-social"><iframe allowfullscreen="" frameBorder="0" height="350" src="https://www.youtube.com/embed/XFTv4o1LhNU" width="510"></iframe></figure>(UPDATE) None of the three pre-qualified bidders have submitted offers for the largest Private-Public Partnership project to date, the Laguna Lakeshore Expressway estimated to cost around P123 billion.The three bidders are San Miguel Holdings, Team Trident—a group composed of the industry giants SM, Ayala, Aboitiz, and Megaworld—and partnership between South Korea’s HanShin and Manny Villar’s group of companies.In a statement Monday, San Miguel President &amp; Chief Operating Officer Ramon Ang said the project was &quot;just not feasible.&quot;&quot;Government will have to re-examine its assumptions and redesign a mutually beneficial contractual structure best suited for a deal as large and intricate as this one, given its potential to create opportunities that will generate the greatest benefit to a lot of people,&quot; Ang said.Other bidders have earlier expressed worries over a lack of guarantee of the 47-kilometer elevated road being connected to C-5 and C-6 road projects and the complexity in constructing a massive flood-control dike.READ: <a href="http://news.abs-cbn.com/business/v1/11/24/15/team-trident-laguna-lakeshore-ppp-project-unviable">Team Trident: Laguna Lakeshore PPP project &#x27;unviable&#x27;</a>Department of Public Works and Highways Secretary Rogelio Singson however said they are now discussing how the project can move forward.

None of the three pre-qualified bidders have submitted offers for the largest Private-Public Partnership project to date, the Laguna Lakeshore Expressway estimated to cost around P123 billion.