To attract investors, NEDA approves revisions for multibillion peso terminal project


MANILA- To attract more investors for the multibillion peso integrated transport terminal projects in the south of Metro Manila, the government has made revisions and included ‘sweeteners’ to the said project.

According to the Department of Transportation and Communications (DOTC) secretary Jun Abaya, the National Economic and Development Authority (NEDA) board has already approved revisions in the P4-billion Integrated Transport System (ITS) South Terminal Project and the P2.5 billion ITS Southwest Terminal Project.

The changes were made to improve the commercial attractiveness to possible bidders said the DOTC. The bidding should supposedly start on May 15 but has been moved to June 16 to allow the investors to give more time to bidders to prepare their documents. The winning bidder would finance, design, construct and operate the project for 35 years.

Cossete Canilao, Public Private Partnership (PPP) executive director enumerated the changes to the terms which include the following:

-Proponent may be allowed to construct access road;

-Option to increase project land by 1.9 hectares; and

-Change in bid parameter from highest concession fee to lowest service fee to the government.

The multibiliion terminal project will decongest traffic in Metro Manila according to DOTC.
The multibiliion terminal project will decongest traffic in Metro Manila according to DOTC.

The ITS-South Terminal will be situated at the Food Terminal Inc (FTI) Complex along the South Luzon Expressway (SLEX). On the other hand, the ITS-Southwest Terminal will be built along the Manila-Cavite Coastal Road.

Among the companies interested in the auction are Ayala Corp, Ayala Land Inc, D.M. Wenceslao and Associates Inc, Expedition Construction Corp, Filinvest Land Inc, Egis Projects Philippines, Megawide Construction Corp, Robinsons Land Corp, Metro Pacific Tollways Corp, States Properties Corp, San Miguel Corp and Vicente T. Lao Construction.

With a 2.9 hectare land area, the ITS-Southwest Terminal will become a central transport terminal that will connect passengers from Cavite to other urban transport system such as rail lines, city buses and UV express vans.

The DOTC believes that through the said project, travel time will be more efficient and convenient for passengers. It added that this is the key to decongest traffic on the main thoroughfares of Metro Manila since provincial buses will no longer enter the metropolis.

The said project will include a passenger terminal building, arrival and departure bays, public information systems, ticketing and baggage handling facilities and park-ride facilities.

Aside from the ITS project, the NEDA board gave the go-signal to other transportation projects. The Light Rail Transit Line 2 worth P14.34 billion will be allowed to operate as a public-private partnership deal for 10-15-year concession period. Two more projects include the Busuanga Airport development project worth P4.1 billion and Cebu Bus Rapid Transit worth P10.62 billion.

This article has been viewed 2527 times. Article originally posted: June 4, 2014, 5:54 pm (UTC-0). Last update: June 4, 2014 at 6:03 pm (UTC-0).

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