MANILA, Philippines – A seaport project proposed by the Zamboanga City Special Economic Zone and Freeport Authority (ZamboEcozone) has been granted funding for the conduct of a feasibility study, the Public-Private Partnership (PPP) Center said.
The Project Development and Monitoring Facility (PDMF) cleared funding for the conduct of feasibility studies and transaction services for the San Ramon Newport Project, a proposed seaport within the ZamboEcozone.
The port promises to support Zamboanga City’s bid to become the center of maritime activity in the region and a transhipment hub for the Brunei-Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), a sub-regional cooperation the current administration plans to revive.
It is proposed to be implemented as a PPP project with a concessionaire undertaking the financing, development as well as operation and maintenance of the port in exchange for the right to recover its cost through charging of fees for the use of the port facilities and services.
Aside from the San Ramon port project, the PDMF committee also approved funding for transaction advisory services for the unbundled regional airport projects and the New Nayong Pilipino at Entertainment City project.
The PDMF, which was set up in 2011, is a revolving fund that can be tapped by government agencies for pre-investment activities of PPP projects.
It is managed by a board composed of the National Economic and Development Authority (NEDA), the Department of Budget and Management, the Department of Finance and the PPP Center.
The board sets the guidelines for use of the fund and approved projects for funding.
PDMF finances pre-investment studies, including pre-feasibility studies, feasibility studies, preparation of tender documents, draft contracts, bidding processes and contract negotiations to bid award stage. It also provides project proponents with transaction advisory services to ensure that competitive and transparent processes are observed.
05 February 2017
By Czeriza Valencia