June 2, 2014 / 6:55 AM / in 4 years

Ayala, SanMig, Metropac, MTD vie for $810 mln Philippine toll road

MANILA, June 2 (Reuters) - Four groups bid on Monday for a 35.4-billion pesos ($810 million) state contract to build and operate a toll road meant to decongest traffic in industrial zones south of Manila under a public-private partnership (PPP) programme, the government said.

The winner of the contract, the Philippines’ most expensive road project under the PPP scheme so far, will be announced at a later date as bids will first be reviewed for technical evaluation, Rogelio Singson, public works secretary, told investors during the auction.

Among those who submitted bids are a consortium formed by Ayala Corp and Aboitiz Equity Ventures Inc, and the grouping of Metro Pacific Investments Corp, DMCI Holdings Inc and Leighton Holdings Inc.

Besides the two groupings, San Miguel Corp and Malaysia’s MTD Capital Bhd also made bids.

The 35-year contract to finance, design, construct, and operate a 47-kilometre four-lane toll road connecting two expressways south of the capital is part of government efforts to address the Southeast Asian nation’s infrastructure backlog.

The Asian Development Bank said in a report last year the country needs $20 billion annually in infrastructure investment to sustain economic growth, attract direct investment and alleviate poverty.

On Thursday, the government added two new infrastructure ventures to a pipeline of projects it will offer to investors under the PPP scheme.

A consortium formed by Ayala Corp, Metro Pacific and Macquarie Group submitted the lone bid last week for a 64.9 billion peso ($1.5 billion) project to renovate and extend Manila’s oldest elevated railway, the most expensive PPP so far. ($1 = 43.755 Philippine pesos) (Reporting by Siegfrid Alegado; Editing by Muralikumar Anantharaman)

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