NEWS

Ayala Land Submits Best Bid for South Terminal PPP

MANILA – Ayala Land has submitted the best offer for the contract to develop and operate a P4 billion transport terminal south of Manila.

The property firm offered to take on the project for an annual government subsidy of P277.89 million compared to the P1 billion bid of Filinvest Land Inc.

The awarding of the 35-year concession is expected within a month and construction is scheduled to start in May next year.

The project covers the construction of a terminal within a 4.7-hectare lot along FTI Compound, Taguig.

It will connect passengers coming from the South, specifically the Batangas and Laguna area, to other public utility vehicles that are serving inner Metro Manila.

The winning bidder will handle design, construction, and operations and maintenance (O&M) of the terminal for a concession period of 35 years.

The project also covers the construction of arrival and departure bays, public information systems, ticketing and baggage facilities and park-ride facilities.

The Department of Transportation and Communications (DOTC) plans to award the project in the third quarter this year. Construction is seen to start by the second quarter of 2016, while the terminal is set to open in December 2017.

Ayala Land, a unit of conglomerate Ayala Corp., expects to complete the construction by October 2017, it said in a statement.

Other pre-qualified bidders for the project, Megawide Construction Corp. and Datem Inc., did not submit bids on concerns about the project’s commercial viability. —With Reuters