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Showing posts with label Philippine National Railway. Show all posts
Showing posts with label Philippine National Railway. Show all posts

Saturday, December 29, 2012

Stock News 2012: DOTC moves to address San Miguel-MIPC row

200 px
200 px (Photo credit: Wikipedia)

The Department of Transportation and Communications (DOTC) has come out with a compromise solution to the issue on the funding of the shared portion of two separate roads that will link highways north and south of Metro Manila.

The issue had put two of the country’s top conglomerates—San Miguel Corp. and Metro Pacific Investments Corp.—on a collision course that threatened to delay the implementation of their respective projects both seen as cornerstones of the Aquino administration’s economic agenda.

San Miguel Corp., through subsidiary Citra Metro Manila Tollways Corp. (CMMTC), plans to extend the Metro Manila Skyway from Buendia, Makati to Balintawak, Quezon City, creating a nearly-seamless link with North Luzon Expressway.

MPIC, for its part, has a pending proposal to connect the NLEx with the Skyway via an alignment that follows the existing Philippine National Railways line from Tondo, Manila to Makati.

MPIC, through Metro Pacific Tollways Corp., holds the concession to NLEx, while CMMTC holds the concession to the Skyway.

Transportation Secretary Jun Abaya this week said the compromise deal would be incorporated in CMMTC’s revised concession for the Skyway. The deal will also be part of the Department of Public Works and Highways “Swiss” challenge for MPIC’s proposed connector road.

CMMTC’s planned project is part of its original concession deal for the Skyway. MPIC’s project, however, is an unsolicited proposal to the government and will, therefore, have to undergo a “Swiss” challenge, where other interested parties will be given the chance to submit better offers.

Abaya declined to give further details on the compromise deal. Officials from both CMMTC and MPIC were not available for comment to confirm if the concerned parties had accepted the government’s compromise proposal.

Worth about P7 billion, the 5-kilometer extension will be shared by Citra and MPIC, before their respective connectors veer off to their separate alignments.

http://business.inquirer.net/100041/dotc-moves-to-address-san-miguel-mipc-row

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Tuesday, November 13, 2012

Stock News 2012: Ayala buys FTI for P24.3B

Map of Metro Manila
Map of Metro Manila (Photo credit: Wikipedia)

After lying idle for years,  the sprawling Food Terminal Inc. (FTI )complex in Taguig City will soon be developed into a commercial business district.

Executives of Ayala Land Inc. (ALI) led by  chairman Fernando Zobel de Ayala on Monday agreed to purchase the 74-hectare FTI property for P24.3 billion from the government in a signing ceremony witnessed by President Aquino in MalacaƱang.

ALI plans to develop the FTI complex into an integrated mixed-use and business district that will feature retail, dining and entertainment.

“We hope the redevelopment of the FTI complex will lead to a surge in economic activity and increase employment in the city of Taguig and the surrounding metropolitan area,” said Karen Singson, chief privatization officer of the Privatization and Management Office (PMO).

Proceeds of the sale will be used to finance the Department of Agriculture’s agriculture and fisheries modernization program and projects of the Department of Agrarian Reform, Singson said.

“The development of what will be the next premiere CBD of Metro Manila is another milestone that we are very pleased to be embarking on,” said ALI president and CEO Antonino Aquino who signed for the company.

The PMO had set a floor price of P10.2 billion for the property. At least seven parties had expressed interest in one of the biggest industrial complexes in Metro Manila.

ALI bested the bids of Robinsons Land (P14.7 billion) and Empire East (P11 billion), the Presidential News Desk said.

Located along the South Luzon Expressway, FTI is envisioned to become a key pivotal convergence point and southern gateway to Metro Manila.

The new ALI development will showcase the largest “intermodal transport system” linking various types of transit options to facilitate commuting from various points. The planned Integrated Transport System project of the Department of Transportation and Communication will be set up adjacent to the FTI property and will be linked to the Philippine National Railway station in the area.

http://business.inquirer.net/92698/ayala-buys-fti-for-p24-3b

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Tuesday, May 8, 2012

Stock News 2012: MPIC open to partnership with SMC-Citra

Aerial View approaching Dau Barrier, NLExAerial View approaching Dau Barrier, NLEx (Photo credit: Wikipedia)
Metro Pacific Investments Corp. (MPIC) said it is open to the possibility of teaming up with the San Miguel Corp.-backed Citra Metro Manila Tollways Corp. (CMMTC) in the construction of a toll road that will connect North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX).

In an interview, MPIC chairman Manuel V. Pangilinan said that while the government is inclined towards approving the respective toll road projects proposed by MPIC and SMC-CMMTC, “we are open to partnership.”

But he emphasized that the possibility of a partnership has never been discussed with SMC nor brought up in any of the meetings with the government. “But if brought up, we are open to it,” he said.

In an interview with The STAR, Metro Pacific Tollways Corp. (MPTC) president Ramoncito Fernandez said their proposed connector road project is currently on hold and is awaiting a “formal go or no objection” from the Department of Transportation and Communications (DOTC). MPTC is the toll road subsidiary of MPIC.

The Department of Public Works and Highways (DPWH) has accepted the unsolicited proposal submitted two years ago by Metro Pacific Tollways Development Corp. (MPTDC), a wholly-owned subsidiary of MPTC, to construct, manage, and operate the P17-billion connector road project.

The connector road project involves the construction of a 13.2-kilometer elevated road linking NLEX to SLEX.

MPTC said the road will run along the Philippine National Railway (PNR) tracks within Manila’s central business district, from the end of NLEX at C3 to the beginning of Skyway 1 at Buendia.

The DOTC earlier announced plans for a new high-speed rail project in place of the suspended NorthRail linking the Ninoy Aquino International Airport (NAIA) and the Diosdado Macapagal International Airport (DMIA)in clark The project would cost about $2 billion, DOTC Secretary Mar Roxas said.

Roxas said the exact amount is uncertain in the absence of a detailed engineering design but the Chinese government said it is open to funding this.

He revealed that talks between the Philippine and Chinese governments have been continuing since Chinese officials informed the government last year that it could provide bigger funding for a high-speed rail.

For his part, Fernandez said the express train can co-exist with MPTC’s expressway and that they can be put on the same alignment.

The plan is to finish negotiations with the DPWH on the specifications of the road project after which a “Swiss challenge” will be conducted. It is only after MPTC successfully hurdles the Swiss challenge that the company can proceed with the project.

Fernandez also stressed that if they start now, they can finish the connector road project in two-and-half years’ time.

Earlier, CMMTC said it supports a plan for government to allow the construction of two major tollways connecting NLEX and SLEX.

“Having two major tollways linking the North and South will indeed be very beneficial to the public. Not only will we decongest EDSA, we will also hasten the flow of traffic and commerce between North and South,” CMMTC president Shadik Wahono said

“San Miguel Holdings - Citra Skyway 3 project and the ‘connector’ road of Pangilinan’s Metro Pacific Tollways Corp. (MPTC) will cater to different markets and therefore, serve different purposes, he added.

Citra’s proposed North-South link, a 14-kilometer, six-lane tollway with exits in Quirino in Manila and Plaza Dilao, Aurora Blvd., E. Rodriguez Ave., Quezon Blvd., Sgt. Rivera, and Balintawak in Quezon City, is seen to greatly decongest EDSA. MPTC’s connector road, on the other hand, will have four lanes and three exits in Quirino, Espana, and 5th Ave.

“We don’t mind if the government will allow both Citra and MPTC to undertake their projects. The more that the roads complement each other, the better the traffic throughput would be,” he said.

This was also the position that the San Miguel Holdings - Citra consortium adopted when it announced late last year that it was prepared to spend $1.5 billion for infrastructure acquisitions and development in the country for 2012.

http://www.philstar.com/Article.aspx?articleId=805307&publicationSubCategoryId=66

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Friday, October 28, 2011

Stock News 2011: Vista Land Unveils P10-B Development

Northbound platform of Sucat railway station w...Image via WikipediaTop home developer Vista Land and Lifescapes, Inc. is ramping up to P10 billion its investment in the Presidio, a residential and commercial enclave within the 60-hectare Vistaland Lakefront master-planned city in Sucat.

Vista Residences chief operating officer Maribeth C. Tolentino said their vertical housing unit is planning to put up five more mid-rise residential condominium clusters in the 7-hectare Presidio.

She said the additional cluster buildings will range from 5- to 15-storeys each with about 400 units and a total cost of P2 billion for all five buildings. Lakefront features an array of San Francisco-inspired residential enclaves that offer leisure and lifestyle choices.

Lakefront is strategically located in Sucat, which is seen as a natural extension to Makati and Bonifacio Global City.

Sucat is envisioned to be the next central business district due to its easy access to the airport, South Luzon Expressway and the Philippine National Railway as well as schools, malls, and offices in nearby Makati, Bonifacio, Ortigas and Alabang.

Tolentino said Presidio will consist of 12 mid-rise cluster buildings offering a total of 1,200 residential units. Seven cluster buildings with a total of 795 units have already been completed.

http://mb.com.ph/articles/339223/vista-land-unveils-p10b-development
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