The Sy, Zobel de Ayala and Aboitiz families are joining forces to bid for the government’s largest infrastructure project—the P123-billion Laguna Lakeshore Expressway Dike project.
SM Prime Holdings Inc. president Hans Sy said in an interview at the sidelines of the 18th Philippine Retailers Associations awards night the three conglomerates had agreed to become joint venture partners and were finalizing the details of the partnership before submitting the bid for the project.
Sy said the company was invited to join the Ayala-Aboitiz consortium, which previously bid for the Cavite-Laguna Expressway project.
“That is what we are finalizing right now,” Sy said, when asked for the ownership structure of the joint venture.
“It’s to show people there is so much opportunity out there. We don’t have to fight each other. We can work together,” Sy said.
This will be the second joint venture between Ayala group and the Sy family, after the two groups agreed to forge a strategic alliance to develop the landbank of Ortigas and Company Ltd. Partnership.
Meanwhile, Metro Pacific Investments Corp. led by businessman Manuel Pangilinan remains undecided on participating in the Laguna Lakeshore project.
“We have not decided on that project,” Metro Pacific chairman Manuel Pangilinan told reporters.
The Public Works Department earlier set the deadline for submission of bidders’ qualification documents for the Laguna Lakeshore project on Feb. 27.
A total of 24 companies have expressed interest in the largest PPP project rolled out so far by the government.
Among these companies are San Miguel Corp., JG Summit Holdings Inc. of taipan John Gokongwei, the Lucio Tan group, Megaworld Corp. of businessman Andrew Tan, GT Capital Holdings Inc. of taipan George Ty and Filinvest Land Inc. of tycoon Andrew Gotianun.