ASEAN KEY DESTINATIONS
Philippines postpones investment meeting
Finance Secretary Cesar Purisima said that the economic team decided to move the scheduled launch of the PPP initiative to November 18 instead of next month because it already ran out of rooms to accommodate all the proponents of the first 10 projects.
"We decided to move the PPP conference to November as we are pressed to find a venue that would house our expected guests," Purisima said.
He said the conference would be a two-day event that would comprise investors coming from the US, Europe, Japan, Korea, China, the Middle East, among others.
"Of course, there are also local investors," he said.
The finance chief also said President Benigno Aquino 3rd would use his US trip to drum up support for the first 10 projects under PPP.
"We actually don't have to pitch these projects anymore as we are already receiving letters of interest from large-scale investors all over the world," Purisima said.
These 10 projects include the MRT-LRT expansion, which would cost P70 billon; MRT Line 2 extension, P11.299 billion; new Bohol airport, P7.543 billion; Puerto Princesa airport, P4.362 billion; NLEx-SLEx Link, P21 billion; CALA Expressway-Manila side section, P10.5 billion; and Daraga International Airport, P3.075 billion.
The three remaining projects, the costs for which have yet to be determined, include the development of the City Terminal for Diosdado Macapagal International Airport, the privatization of the Laguindingan airport operation and maintenance, and the supply of treated bulk water for Metro Manila.
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