MANILA, Philippines – Firms bidding for the P122.8-billion Laguna Lakeshore Expressway Dike project are being given more time to prepare their offers with the deadline for bid submission again moved to a later date.
Public Works Secretary Rogelio Singson said in a text message the new bid submission date for the project is on March 28. The deadline for the submission of bids for the project was supposed to be yesterday.
The deadline to submit bids for the project has been moved several times with interested firms having concerns on the deal.
“We have to give time for the bidders to discuss a minor change in the concession agreement on termination payment provision,” Singson said.
PPP Center executive director Andre Palacios said the Department of Public Works and Highways decided to make a modification to the contract to better manage the project risks.
“The extension will give bidders time to review and make the necessary adjustments,” he said.
Under the deal, the winning bidder will finance, design, construct, operate, and maintain a 47-kilometer flood control dike with expressway toll roads.
Through the project, the high standard highway is expected to reduce the travel time from Metro Manila to Laguna from 90 to 35 minutes.
It is likewise seen to pave the way for better traffic flow and prevent flooding from Taguig in Metro Manila to Los Baños, Laguna.
Three groups have been prequalified to bid for the project. These are Alloy-PAVI-Hanshin LLEDP Consortium (composed of Alloy MTD Capital BHD, Prime Asset Ventures Inc., Hanshin Engineering Constructions), San Miguel Holdings Corp.; and Team Trident (composed of Trident Infrastructure and Development Corp., Aboitiz Equity Ventures Inc., Ayala Land Inc., Megaworld Corp., and SM Prime Holdings Inc.).
Palacios said the postponement of bid submissions for the project is not seen to adversely affect the target to award at least 10 more PPP projects before President Aquino steps down on June 30.