San Miguel Corp is among bidders in Cavite-Laguna re-auction

San Miguel Corporation, Metro Pacific Investments Corporation and an unidentified firm reportedly are bidding in the US$1.25 billion re-auction for work on the Cavite-Laguna Expressway. The deal involves building, operating and maintaining the 47km four-lane toll road for 35 years under a public-private-partnership. The sum includes a $448 million bid price, equal to the premium offered by SMS subsidiary Optimal Infrastructure Development during the first tender for the project in June 2014. San Miguel was
March 19, 2015 Read time: 1 min
RSS6326 San Miguel Corporation, 5815 Metro Pacific Investments Corporation and an unidentified firm reportedly are bidding in the US$1.25 billion re-auction for work on the Cavite-Laguna Expressway.

The deal involves building, operating and maintaining the 47km four-lane toll road for 35 years under a public-private-partnership. The sum includes a $448 million bid price, equal to the premium offered by SMS subsidiary Optimal Infrastructure Development during the first tender for the project in June 2014. San Miguel was then disqualified due to a bid security technicality.

The other three bidders in the first auction were MPCALA Holdings; Team Orion (partnership of AC Infrastructure Holdings Corporation and Aboitiz Land); and MTD Philippines.

Team Orion and MTD have stated they are no longer interested.

The new tender will have a single stage with pre-qualification documents, technical and financial offers to be sent in by all bidders at once.

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