Posts Tagged ‘PPP’

PHILIPPINE PUBLIC-PRIVATE PARTNERSHIP PROJECTS SHOWCASED IN NEW YORK

Philippine Consulate General, New York

22 October 2014

 

PHILIPPINE PUBLIC-PRIVATE PARTNERSHIP PROJECTS SHOWCASED IN NEW YORK

Consul General Mario De Leon, Jr., PPP Center Executive Director Cosette Canilao and Deputy Consul General Zaldy Patron, together with the officers of the Philippine American Chamber of Commerce of New York and the executives of EisnerAmper LLC, during the PPP Forum at the Philippine Center on 16 October.

 

NEW YORK – The Philippine Consulate General in New York recently organized a forum highlighting the various infrastructure projects in the Philippines that will be undertaken under the public-private partnership (PPP) program.

The forum, held on 16 October at the Philippine Center, featured Cosette Canilao, Executive Director of the Philippine PPP Center, as the main speaker. She talked about the PPP program and its objectives, legal framework, policies and bidding process.

Ms. Canilao gave a list of eight PPP projects in the Philippines that have already been awarded to various groups, two projects that are for implementation, and 47 projects that are still in the pipeline. Together, these projects have combined project cost of $20.822 billion.

Consul General Mario De Leon, Jr., PPP Center Executive Director Cosette Canilao and Deputy Consul General Zaldy Patron, together with the officers of the Philippine American Chamber of Commerce of New York and the executives of EisnerAmper LLC, during the PPP Forum at the Philippine Center on 16 October. She gave more detailed presentation on the five PPP projects that are under procurement and the 15 projects that are still for roll-out.

She encouraged U.S. investors to consider participating in these projects, namely:

A. Under Procurement
• Bulacan Bulk Water Supply Project (estimated project cost – $542.2M)
• Integrated Transport System Project – South Terminal ($100M)
• Laguna Lakeshore Expressway Dike Project ($2,728.9M)
• O&M of Light Rail Transit (LRT) Line 2
• New Centennial Water Supply Source ($416M)

B. For Roll-Out
• Operation & Maintenance (O&M) of New Bohol (Panglao) Airport ($52M)
• O&M of Laguindingan Airport ($353.8M)
• O&M of Puerto Princesa Airport ($116.2M)
• O&M of Davao Airport ($901.6M)
• O&M of Bacolod Airport ($450.2M)
• O&M of Iloilo Airport ($675.6M)
• San Fernando Airport ($180M)
• Davao Sasa Port ($388M)
• Regional Prison Facilities ($1,115.1M)
• Motor Vehicle Inspection System ($428.9M)
• North-South Railway Project: South Line ($3,702.9M)
• Mass Transit System Loop ($3,000M)
• LRT Line-1 Dasmariñas Extension
• Batangas-Manila Natural Gas Pipeline
• Manila Bay-Pasig River-Laguna Lake Ferry System

About 40 executives and business people attended the forum, which was co-hosted by the Philippine American Chamber of Commerce of New York and EisnerAmper LLC.

After the forum, Ms. Canilao had one-on-one meetings with five groups that are seriously considering to invest in the Philippines.

In his welcome remarks, Consul General Mario De Leon said, “This PPP forum is taking place during an exciting time for the Philippines, now an investment grade country and is one of the fastest growing economies in Asia.” He underscored that the Philippines will need to build and upgrade its infrastructure to sustain its long-term economic growth.

Companies that are interested to participate in the PPP projects in the Philippines may get more information from the PPP Center’s website: www.ppp.gov.ph.

Apec finance chiefs aim for more PPP investments

Philippine Daily Inquirer, 24 October 2014
By Ben O. de Vera
 
Infrastructure spending across region seen to bolster growth
 
‎Finance ministers of the 21 economies belonging to the Asia-Pacific Economic Cooperation (Apec) see more infrastructure investments as key to bolstering the region’s growth amid a still fragile global economy.

In a joint ministerial statement issued after Wednesday’s 21st Apec Finance Ministers’ Meeting in Beijing, China, the 21 finance chiefs noted that “[a]s the global economy still faces persistent weakness in demand, growth is uneven and remains below the pace necessary to generate needed jobs, and downside risks have risen.”

Still, Apec members hope to “lead” the global economic recovery, and a way to do so is by higher infrastructure spending, they said.

“Investment is crucial to boosting demand and lifting growth. Infrastructure investment plays an important role in realizing growth potential and meeting development goals,” the statement pointed out.

However, Apec finance ministers admitted that there remained a huge funding gap between the region’s infrastructure needs and the limited financial resources of member-governments.

As such, Apec financial ministers said they “call for further efforts, including through our own policy reforms, to attract long-term financing and leverage private resource flows to fill the gap, including through public-private partnership (PPP).”

For the part of the public sector, member-countries pledged to fast-track PPP through the following: facilitating an enabling environment; formulating infrastructure development plans based on quality elements of infrastructure, good practices and principles, and people-centered investment; preparing bankable projects; as well as attracting long-term private financing.

Apec finance ministers also endorsed the “implementation roadmap to develop successful infrastructure PPP projects in the Apec region,” which had been developed from a compilation of PPP case studies in Asia-Pacific.

The implementation roadmap would be submitted to Apec’s top leaders during their meeting also in Beijing next month.

The next Apec Finance Ministers’ Meeting will be hosted by Cebu City in September next year.

The Philippines will chair and host the Apec Summit in 2015.

Philippines’ GSIS eyes new infrastructure fund

Asia Asset Management, 24 October 2014
By Daniel Shane
 
The Government Service Insurance System (GSIS), the Philippines’ public sector pension system with almost 730 billion pesos (US$16.29 billion) in assets, is looking at a second round of infrastructure investments as authorities in the country prepare to tender a number of new public-private partnership (PPP) projects.

Speaking at the CFA Institute’s Philippines Investment Conference in Manila, GSIS President Robert ‘Bernie’ Vergara said that the social security system had so far deployed approximately 50% of its existing $625 million infrastructure fund. The fund was launched in 2012 alongside the Asian Development Bank, the Netherlands’ Algemene Pension Groep and Macquarie Infrastructure and Real Asset, with GSIS contributing around $400 million.

“The GSIS and other pension funds and insurance companies, that are about long-term capital accumulation, have a role to play in building out infrastructure that the country needs,” Mr. Vergara said in response to a question from Asia Asset Management.

“If you really believe that the country needs however many billions of dollars in new infrastructure just to match our other ASEAN peers, and there’s lots of demand and limited supply, that means the returns you get should be better. We will continue to look at this asset class for GSIS; I think when the infrastructure fund that we raised has been fully invested, then we’ll probably look at a second round of capital,” he continued.

The first fund could be fully invested within the next 18 to 20 months, with the potential size of the next infrastructure fund between $300 million and $350 million.

Mr. Vergara said that GSIS was increasingly allocating to higher-yielding assets such as domestic equity, given the prevailing low interest environment, in order to meet its liabilities.

“We need to generate between 8.5% and 9% annually, and locking in to a 25-year [bond] yield at 4.7% means we have to find 4% elsewhere – and that’s why we’ve increased our equity exposure and [exposure to] other asset classes like infrastructure. That’s why we’ve also increased the number of equity portfolio managers,” he explained, adding that GSIS’s number of domestic fund managers was currently eight, up from three in 2010.

Mr. Vergara said that GSIS’s allocation to real estate was presently about 4%. Despite these assets “yielding very good returns”, he added that in terms of this investment class the pension fund was “a seller rather than a buyer”.

He continued that GSIS saw Filipino equity markets as “more compelling” than offshore assets, with “a lot of new companies coming to the market” amid “a secular upswing in the Philippines”.

Mr. Vergara said that the fund had previously in 2008 – immediately prior to the global financial crisis – earmarked a 10% allocation for foreign assets, but was now “once bitten twice shy” on them. He added that about 40% of the portfolio was currently allocated to fixed-income assets.

During an earlier panel discussion at the CFA event, Secretary for the Department of Works and Highways Rogelio Singson said that the Filipino administration was seeking to increase its infrastructure spending from 1.9% of GDP to 5%, or 795 billion pesos, by 2016.

Diwa Guinigundo, deputy governor, Monetary Stability Sector, Bangko Sentral Ng Pilipinas, added that eight PPPs worth $3.8 billion had been awarded under the current government, with a total pipeline of 47 valued at $16 billion still to come.
 

Philippine economic officials holding another roadshow in U.S.

InterAksyon, 22 October 2014
Darwin G. Amojelar
 
MANILA – The Aquino administration’s economic officials are returning to the U.S. this week to make another pitch for investment opportunities in the Philippines.

The Philippine delegation will include Finance Secretary Cesar Purisima, National Treasurer Rosalia de Leon, and Bangko Sentral ng Pilipinas (BSP) Assistant Governor Ma. Cyd Tuaño-Amador.

The non-deal roadshow will run from October 22 to 28 and will cover Los Angeles, Boston, New York, and Philadelphia. Global banks Citi, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Standard Chartered Bank, and UBS are assisting the Philippine government in the roadshow.

This week’s roadshow comes a month after President Benigno Aquino III went on a state visit to the U.S. to talk up Philippine economic prospects, among others, with some of his economic managers in tow.

Some of them early this month went on a similar trip to Japan to drum up interest in the Aquino administration’s public private partnership (PPP) program.

“The Philippines is poised to remain a bright spot. Updating investors offshore on the country’s economic outlook is a prudent exercise as it helps keep appetite for our government securities,” Purisima said in a statement.

Investment community talks up Philippines’ economic prospects

InterAksyon, 22 October 2014
By Krista Angela M. Montealegre
 
MANILA – Addressing infrastructure bottlenecks will be key for the Philippines if it were to remain one of the brightest spots in Asia, according to participants of the Philippines Investment Conference.

Timothy Moe, chief Asia Pacific regional equity strategist for global investment research at Goldman Sachs, said the long-term growth prospects of the Philippines are among the best in Asia on a trend basis, citing the huge potential to improve productivity and investment accumulation because of the large population and young demographics.

“When you look at the five-year potential average growth rates of the economy, the Philippines is one of the top four in Asia outside China,” Moe told participants of the conference organized by the CFA Institute on Tuesday.

However, supply-side constraints will remain a problem for the Philippines and other Asian nations, which have underinvested in infrastructure in the past several decades. Reallizing this, the government recently revived its infrastructure push to include roadshows outside the country to draw in investors.

“If there is potential for appropriate investment in infrastructure, there is significant productivity gains we can derive from that,” Moe said.

The Philippine economy expanded by 6.4 percent in the second quarter, recovering from the 5.8 percent in the January to March period, to bring the six-month tally to 6 percent and become the second fastest-growing nation in Asia.

“The port congestion in Manila has underscored the need to accelerate infrastructure development as it plays a critical role in supporting economic performance and upholding confidence in international businesses to partake in local industries,” said Finance Undersecretary Jose Emmanuel Reverente.

The Aquino administration has tapped the private sector to accelerate infrastructure development through the public-private partnership (PPP) scheme.

Despite a slow start, the rollout of projects is already picking up, said PPP Center executive director Cosette Canilao, citing the award of eight infrastructure projects worth P127.5 billion since the program took off four years ago.

“Momentum is here already,” Canilao said.

The National Economic and Development Authority, which President Benigno Aquino S. Aquino III chairs, last week approved 12 more projects worth a combined P180 billion.

“We now have a very good PPP platform. The appreciation of the local private sector on how to do PPPs has improved a lot. There is an understanding between the government and the private sector on how we do our biddings and finalizing the terms of concession agreements. We now have a proven process,” Canilao said.

Department of Public Works and Highways Secretary Rogelio Singson said the government is also investing heavily in the countryside, pouring in 30 percent or P63 billion of the proposed P288-billion budget in Mindanao, excluding calamity and Bangsamoro funds.

“Metro Manila is not the Philippines,” Singson said.

For 2013-2016, the government has lined up 952 projects with total investment requirements of P2.06 trillion or $46.69 billion.

The Aquino administration plans to hike infrastructure spending to 5 percent of gross domestic product by 2016. At present, infrastructure spending stands at only 2.2 percent of GDP.

The current regime of low interest rates and predictable inflation, among others, are elements that will support funding for infrastructure project, thus, sustaining the economy’s higher growth trajectory, said Bangko Sentral ng Pilipinas Deputy Governor Diwa Gunigundo.

“We have been able to institutionalize many of these initiatives to make sure the macroeconomy is conducive to sustaining the conditions that will help provide funding and confidence in favor of promoting infrastructure,” Gunigundo said.

With better infrastructure, the Philippines can unlock its full potential, allowing corporates to grow by an average rate of 15 percent or higher, Moe said.

“If that happens, stock markets will go up,” he said.
 

Fora flag tasks to sustain growth

Busines World, 22 October 2014
By Daryll Edisonn D. Saclag
 
IT WILL TAKE a combination of moves by government to make it easier to do business and by companies themselves to boost competitiveness for the country to sustain its growth trajectory, state and private sector speakers said in separate fora yesterday.
 
The economy will only pick up steam if the Aquino administration will accelerate spending on much-needed infrastructure, said speakers at yesterday’s Philippines Investment Conference in Makati City.

“Growing 6.5-7.5% or 7-8% is something doable only if we can sustain our potential capacity. And how do we sustain this? Through infrastructure,” Central bank deputy governor Diwa C. Guinigundo yesterday said.

Universal Robina Corp. Senior Vice-President Bach Johann M. Sebastian agreed, noting that recent economic growth hinged mainly on consumer spending.

“I believe growth in the past few years was spurred mainly by consumption because of remittances and robust service sector,” he said.

“Consumption is good… as companies have benefitted from it. But consumption alone cannot sustain the trajectory of Philippine economic growth. We need to create new pockets of value from other sectors. Infrastructure is one.”

The Philippine economy has seen stellar growth in the past two years, expanding 7.2% and 6.8% in 2013 and 2012, respectively.

In the second quarter of this year, gross domestic product (GDP) grew at a faster-than-expected 6.4% from a disappointing 5.6% in the first three months. The latest result, however, was still slower than the past year’s 7.9%.

Last semester, the economy grew by an average of 6%, still short of the government’s 6.5-7.5% target for the entire year.

Mr. Guinigundo has pressed the government to increase public spending as monetary policy setting is tightened. Public spending on infrastructure fell 27.9% annually to P19.9 billion in July, according to latest available data from the Department of Budget and Management. With the drop, the government’s year-to-date infrastructure spending edged up just 3.7% to P156.5 billion from P150.9 billion the past year.

OTHER REQUIREMENTS
Besides building more infrastructure, especially under the public-private partnership (PPP) program, removing “inconveniences” in rules that scare away prospective foreign direct investments (FDIs) and joining the Trans-Pacific Partnership (TPP) are some ways the Philippines could gain a bigger foothold in the global market, according to members of the country’s biggest business organization at the first day of the 40th Philippine Business Conference (PBC) and Expo of the Philippine Chamber of Commerce and Industry (PCCI) in Manila Hotel that ends tomorrow.

Organizers of this year’s PBC — titled “Proudly Pinoy: Partnering Towards Sustained Growth” — hope to come up with a framework to help local industries position in an increasingly integrated global market, PCCI President Alfredo M. Yao said in his speech.

“For our 40th PBC resolution, we will look at building more PPP programs that will further engage government and private sector in developing critical infrastructure to speed up economic growth: roads, bridges, power plants, hospitals, transportation, tourism site development, schools and housing,” Mr. Yao said.

“In the area of integration with ASEAN (Association of Southeast Asian Nations), we will look for policy options for global competitiveness not only for the big companies but also for small and medium enterprises (SMEs).”

Asked what other actions his organization wants to see from the government, Mr. Yao replied on the sidelines of the annual summit: “We’ll seek to remove inconsistencies in government rules that turn off FDIs; that will be in our resolution.”

“We’ll ask to develop policies that will seek to harmonize national and LGU (local government unit) investment rules,” he added.

“This year’s resolution will also include solutions to high-cost power, energy and logistics.”

In his speech, Mr. Yao said that “to differ from our past PBC resolutions, this year, we will highlight competitiveness of local industries and quality of Philippine-made products and services.”

“We’ll focus on promoting the Philippine brand and creating country’s niches and value additions in the ASEAN and global value chains.”

The first day of the summit had plenary sessions that focused on doing business in an evolving market, maximizing benefits of economic partnerships and free trade agreements, as well as shaping a road map for a competitive electric power industry.

In his speech, Philippine Veterans Bank Chairman Roberto F. de Ocampo cited the need for the country’s planners to adjust to the changing balance of economic power towards China, noting: “We in the Philippines had always been pro-American and here we have a rising power next door.”

He explained both government and companies need to do conduct more transactions with lead emerging economies like China, India and Russia.

Cielito F. Hablito, chief of party of the United States Agency for International Development’s Trade Related Assistance for Development, said in his speech that “non-membership in TPP is not an option”, since the growing group has participant-economies on both sides of the Pacific with combined population of 800 million, GDP of $28 trillion (40% of global GDP), $9 trillion in merchandise trade, and $2 trillion in service trade.

In another event in Makati City, Federico M. Macaranas, faculty member at the Asian Institute of Management and a former Foreign Affairs undersecretary, said local firms must master their industries, identify needs of the regional market, and scout for partnerships if they are to thrive in an increasingly integrated Southeast Asia. Key challenges will be in infrastructure, labor and education sectors, he said on the sidelines of a round table discussion about ASEAN Business Awards. — with Chrisee Jalyssa V. Dela Paz and Daphne J. Magturo

PH Gets Invited at Int’l Forum on Emerging Markets Infra

Press Release
25 October 2014

A leading international financial information group invited the Philippine government through the Public-Private Partnership (PPP)Center to join the gathering of global infrastructure fund managers and asset owners, institutional investors, infrastructure developers and other foreign government and multi-lateral agencies at London, England last week.

The Private Equity International (PEI), a financial information group dedicated to the alternative asset class of private equity globally, requested the PPP Center Executive Director Cosette V. Canilao to be one of the speakers at the Infrastructure Investor: Emerging Markets Forum 2014 in London, England.

The two-day forum aims to provide insights from leading figures on the goals, challenges, risks and opportunities associated with emerging market infrastructure developments.

During the forum, Executive Director Canilao discussed the government’s role in accelerating infrastructure development and creating a framework attractive to private sector investment.

She also presented the various PPP investments opportunities in the country, PPP projects open to bidding, and the status of awarded projects. So far, the Philippines has already awarded eight (8) projects through the public-private partnership program.

The highlight of her talk was the sharing of the Philippines’ experience in building up the country’s PPP program through the PPP Center and major efforts in the areas of policy and process improvements, project development and structuring, capacity building, continuous dialogue with the market, and public communications.

This experience has in fact been considered a source of learning for countries in the Asia-Pacific Region developing their own PPP programs. Recently, the royal governments of Tonga and Bhutan visited the country to gain insights and study the Philippines PPP program.

Canilao reiterated in the forum the different key success factors of the government’s PPP program.

“The key success factors of the Philippines PPP program are the Project Development and Monitoring Facility and active Public-Private Partnership Center (PPPC) facilitation during project preparation”, she said.

She also stressed the importance of a streamlined evaluation process for PPP projects.

“Another success factor is the streamlined PPP evaluation process with core Technical Working Group composed of PPPC, Department of Finance, National Economic and Development Authority and Department of Environment and National Resources”, she added.

The government is currently pushing for the amendment of the Build-Operate-Transfer (BOT) law into the PPP Act to facilitate more private sector investments in key infrastructure and development sectors and to ensure sustainability of the program.

$11.6-B PPP Projects To Roll Out In Philippines By 2015

Infrabuddy.com, 14 October 2014

 
Almost 16 public-private partnership PPP deals amounting to $11.6 billion to roll out in 2015,

Bidding process for $2.54 billion worth contracts of operations and maintenance of some of Bohol, Laguindingan, Puerto Princesa, Davao, Bacolod and Iloilo airport projects would commence next year. This will also include construction and rehabilitation of the current aviation hubs as well.

One of the biggest project among these 16 projects is $180 million San Fernando Airport project, which includes the construction of an airport terminal with a mall complex in Barangay Poro, San Fernando City.

The construction and the modernization of the Davao Sasa port, (an international-standard container port with modrn facilities) project worth $388 million is under transport agency is also about to take off and will ultimately benefit the import and export industry of the country, more specifically the island of Mindanao.

The projects like $428.89-million Motor Vehicle Inspection System; the $3.70-billion North-South Railway Project-South Line; the $3-billion Mass Transit System Loop; the Manila Bay-Pasig River-Laguna Lake Ferry System; and the Light Rail Transit Line 1 Dasmariñas Extension. Are under the secretary of Transportation.

Other PPP deals P1.12-billion Regional Prison Facilities; the $416-million Metropolitan the New Centennial Water Supply Project, the Batangas-Manila (BatMan) Natural Gas Pipeline Project (approximately 110-kilometers natural-gas transmission and distribution).

The government has awarded eight PPP contracts since the flagship infrastructure program was launched in late 2010 and 15 more contracts are to be awarded till 2016.
 

Japan investors urged to fill gap in PH infra funding

Philippine Inquirer, 11 October 2014
By Ben O. de Vera
 
Philippine economic managers have urged Japanese investors to pour money into the country’s infrastructure in order to sustain the growing economy.

“The [Philippine] government is working to step up investments in infrastructure to be at par with other competing economies and to meet the country’s future growth requirements,” Socioeconomic Planning Secretary Arsenio M. Balisacan said during the Philippine Economic Briefing in Tokyo on Wednesday.

The Aquino administration aims to jack up infrastructure spending to at least 5 percent of the gross domestic product (GDP) by 2016, from a mere 2.2-percent share in 2012.

In a statement Friday, the Investor Relations Office reported that Philippine officials encouraged the more than 400 Japanese businessmen and government representatives at the Tokyo road show to look into the opportunities being presented by the public-private partnership (PPP) infrastructure projects to be rolled out within a year’s time, on top of prospects in the capital markets, tourism and power sectors.

The PPP projects are worth $12.28 billion.

To improve the country’s infrastructure, 16 PPP projects will be rolled out in the next 12 months. The projects include the operation and maintenance of the airports in Bacolod (worth $450.2 million), Davao ($901.6 million), Iloilo ($675.6 million), Panglao in Bohol ($52 million), Puerto Princesa City ($116.2 million), and Laguindingan ($353.8 million), according to PPP Center Executive Director Cosette V. Canilao.

The Japanese investors were also urged to study the $3.927-billion south line of the North-South Commuter Railway, the $3-billion Mass Transit System Loop, the $1.115-billion Regional Prison Facilities, the $464-million San Fernando Airport, the $428.9-million Motor Vehicle Inspection System, the $416-million New Centennial Water Supply Source project, the $377.8-million Davao Sasa Port, as well as the Batangas-Manila Natural Gas Pipeline, the Light Rail Transit Line 1 Dasmariñas Extension and the Manila Bay-Pasig River-Laguna Lake Ferry System projects.

About 17 percent of the country’s 32,000-kilometer national road network also remains unpaved. This is where Japanese firms may partner with the Philippine government in the areas of construction, consultancy as well as technical support services, Public Works and Highways Secretary Rogelio L. Singson noted.

Philippine economic managers pitch PPP projects in Tokyo roadshow

InterAksyon, 10 October 2014
By Darwin G. Amojelar
 
MANILA – Philippine economic managers have offered to Japanese investors a string of public-private partnership (PPP) projects that the Aquino administration will roll out next year.

“There are 16 projects that we are planning to roll out by next year,” said PPP Center executive director Cosette V. Canilao, who has joined a Philippine delegation in a roadshow in Japan.

One of the 16 projects is the Metropolitan Waterworks and Sewerage System’s (MWSS) P18.72 billion New Centennial Water Supply Project.

A Japanese conglomerate, Marubeni Corp, is already participating in the Philippine water sector, after taking a stake in Maynilad Water Services Inc, the private concessionaire for the east zone of MWSS.

“The New Centennial Water Supply Project will ensure water security for the residents of Metro Manila,” Canilao said.

MWSS has begun soliciting bids for the project, the deadline for which falls on November 17.

Also offered to the Japanese business community are the operations and maintenance (O&M) contracts of several airports in Bohol, Laguindingan, Puerto Princesa, Davao, Bacolod and Iloilo.

“These airport projects have an estimated cost of around $2,549.33 million in total and they are also included in our list of possible investment opportunities”, Canilao said.

The Philippine delegation also pitched the San Fernando Airport Project, which involves construction of an airport terminal with a mall complex in Barangay Poro, San Fernando City in La Union. The project has a $180 million budget.

The $388-million construction and modernization of the Davao Sasa port is also one of the PPP projects that was showcased in the forum.

“This project will ultimately benefit the import and export industry of the country, specifically the island of Mindanao through transforming its facilities into a modern, international-standard container port”, Canilao said.

Other PPP projects that were presented in Tokyo are as follows:

$1.115.11-billion Regional Prison Facilities project;
$428.89-million Motor Vehicle Inspection System;
$3.702 billion North-South Railway Project-South Line;
$3-billion Mass Transit System Loop;
Manila Bay-Pasig River – Laguna Lake Ferry System; and
LRT1 Dasmarinas Extension, which will extend the train service by approximately 15 kilometers.

Canilao said the government also is pursuing the Batangas-Manila (BatMan) Natural Gas Pipeline project, which involves construction of an approximately 110-kilometer natural gas transmission and distribution pipeline from the province of Batangas to transport and supply natural gas to Batangas, Laguna, Cavite and Metro Manila.

“The government assured the Japanese companies that significant reforms in the implementation of the country’s PPP program have already been put in place. And the Philippines has been consistent in rolling out PPP projects through transparent, credible and accountable processes,” Canilao said.