San Miguel Corp submits proposal for PLEX
NO CASH-OUT FOR CAPITOL
THE Sangguniang Panlalawigan passed a resolution on May 8 authorizing Gov. Ramon Guico III to enter into and sign a Joint Venture Agreement with San Miguel Corporation (SMC) as first proponent for the Pangasinan Link Expressway Project (PLEX).
Acting Gov. Mark Ronald Lambino , explained to the board members that as early as March, San Miguel Holdings Corp. (SMHC) had signified its intent to submit an unsolicited proposal for the original Pangasinan East-West Expressway.
After the provincial government’s Joint Ventures Selection Committee was organized to set the parameters for proposals to be submitted, SMC presented its proposal on May 2.
Lambino, however, said the governor signs the agreement, the SP, being the chief regulator will have to establish the check and balance process.
He qualified, too, he could not divulge the contents because of a confidentiality clause of a joint venture agreement and the proposal will be subject to a Swiss Challenge procedure, a competitive challenge to ensure transparency and the best opportunities for the government and for the taxpayers’ money.
The expressway project will pass through Binalonan (TPLEX area) to Lingayen, he said.
“What I can disclose officially is no single centavo will be spent by the provincial government in the acquisition of lots and in the project construction… it will all be shouldered by the private proponent,” he said.
SMC also rejected the offer of the provincial government to spend P2-billion for the acquisition of lots as equity in the project. “There’s no need, we will cover for that (equity),” Lambino quoted SMC.
He said that is one of the competitive edges of the proponent and at the very least, it must be matched or better it by any challenger.
The 120-days Swiss Challenge begins upon the official publication of the notice in a nationally circulated newspaper this month by the provincial government.
“During this period, SMC and the provincial government will wait for a bid that will challenge SMC’s offer, and if there is no challenger, the provincial government can declare that SMC as the project holder of PLEx,” Lambino said.
Lambino added that he PLEx project is similar to Build Operate Transfer scheme and SMC
proposed to fully complete the project within six years. (Eva Visperas)
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