Philippine Public-Private Partnership (PPP) projects continue to receive accolades from various international business investment and intelligence agencies that recognize the achievements of the various players from each industry. This year, PPP projects like the LRT Line 1 Cavite Extension and Operation and Maintenance won the Best Project Finance Deal of 2016 during the 10th Annual Alpha Southeast Asia Best Deal and Solution Awards. This honor is given by Alpha Southeast Asia, an institutional investment magazine.
Light Rail Manila Corporation (LRMC), the private partner for the LRT Line 1 PPP project, undertook a P24-billion loan facility through SB Capital Investments Corporation, the First Metro Investments Corporation, and RCBC Capital Corporation. This 15-year loan facility won the Best Project Finance Deal for 2016. It will finance the extension of LRT Line 1 from Baclaran to Bacoor, Cavite and at the same time rehabilitate and improve operations and maintenance of the existing line. This transport project will benefit around 4 million commuters living in Cavite and nearby provinces from a better traveling experience. On February 6, the government and LRMC inaugurated the newly upgraded Doroteo Jose Station. Other stations that have started their refurbishments are Gil Puyat, Pedro Gil, Central, R.Papa, Abad Santos, United Nations and EDSA.
On the other hand, the Bulacan Bulk Water Supply Project (BBWSP) of the Metropolitan Waterworks and Sewerage System (MWSS), is one of the finalists in the Global Water Awards for Water Deal of the Year, an annual recognition organized by the UK-based business magazine Global Water Intelligence.
According to Global Water Intelligence, the award giving body for the Global Water Awards, it recognizes the most important achievements in the international water industry within several categories, and reward those initiatives in the water, wastewater, and desalination sectors that are moving the industry forward through improved operating performance, innovative technology adoption and sustainable financial models.
The BBWSP was awarded to the Luzon Clean Water Development Corporation (LCWDC). Currently, the private partner is now constructing the water treatment plant of this project. An estimated 541,000 households will have access to safe and reliable water supply covering 569 barangays through this project.
The PPP Center was instrumental during the development, procurement, and implementation of these PPP projects, providing technical assistance to the implementing agencies (IA) of the Philippine PPP program.