Philippines to close seven PPPs this year
The Philippines’ PPP Centre has earmarked the following projects to reach financial close this year:
- Phase two of its schools programme
- Light Rail Transit (LRT) line 1 Cavite extension
- The $239m Mactan – Cebu Airport
- The $369m elevated toll road NAIA Expressway
- Orthopaedic Health Centre PPP
- Automated Fare Collection service for the LRT project
- Cavite – Laguna Expressway in South Luzon province
Cosette Canilao, the executive director at the PPP Centre has told PPP Bulletin that the financial close of these seven projects is "the primary concern of the agency at present" because the government wants to "sustain the flow of foreign investment in the Philippines and revive the manufacturing industry".
"These seven projects are the real test right now," she said. "We’re aiming for all these projects to reach financial close this year, and once this happens the interest of stakeholders and the financial sector will be more validated."
While the Philippines did close its first two projects last year (the first phase of its schools PPP and the Daang – Hari expressway), Canilao said the current seven projects stood out because of their higher financial value.
Canilao said the NAIA Expressway will appoint a preferred bidder in early May, and expects to announce a private partner in June for its LRT PPP, the first of the seven to reach preferred bidder stage.