June 3, 2011 Sun Star Davao
THE Philippine Construction Association (PCA) has been granted a T-plex loan facility of P11.5 billion to finance local Public-Private Partnership (PPP) projects.
“It is high time that the public sector does its part in the development construction. The pronouncement of the government in promoting PPP will further improve the economy and the GDP for years to come,” said Levy Espiritu, president of PCA and Datem Inc.
In a press conference for the launch of the PhilConstruct Mindanao 2011 Friday, Espiritu said the t-plex loan facility has been readily offered by the Banco De Oro, Development Bank of the Philippines and Landbank to finance infrastructure projects within the PPP scope.
“We will be starting to build hard and soft infrastructures like airports, toll ways, sea ports then we will be moving on to education and health sector for construction of schools and hospitals,” Espiritu added.
Espiritu said they have forged an agreement with the Bankers Association and Investment House Association of the Philippines to promote infrastructure development in the country.
PCA will start the construction of the expressways in Tarlac, Pangasinan and La Union.
With this endeavor, he said, they would like to limit the use of loans or funds from Japan International Cooperation Agency, Espiritu believes that the Philippines is capable and rather intends to use local resources.
“Why do we need money from abroad if we are capable of funding on our own,” Espiritu noted.