Boston, MA -- (SBWire) -- 07/23/2013 --As expected, conditions that are ideal for construction activity - conducive monetary environment and robust government spending - continue to flourish in 2013 as the Philippine economy continues to hit a sweet spot of strong economic growth and inflation remains under control. Furthermore, the government's Private-Public Partnership Programme continues, albeit slowly, to move up the gears, providing a solid base for infrastructure activity. Consequently, we remain bullish towards the Philippine construction sector, with real growth forecast to reach 8.1% in 2013 and 7.3% in 2014.
Major developments in the Philippines' infrastructure industry:
- In March 2013, 33 new projects were added to the Philippine government's Public-Private Partnership (PPP) programme, bringing the total number of projects in the programme to 57. The 33 projects are at the early stages of planning or in the process of securing consultants to carry out documentation and feasibility studies. Fifteen of these projects are road projects and located across the Philippines, while projects from other sectors are mainly located on the main island of Luzon. Another two projects - the operations and maintenance contract for the Manila Mass Rapid Transit Line 7 and the Metro Manila Skyway Stage 3 Project - are being monitored by the PPP Center for possible inclusion under the PPP programme.
- In March 2013, the Philippines' flag carrier Philippine Airlines (PAL) had put on hold its plan to build a US$6bn international airport owing to unclear policy from the Department of Transportation and Communications. The proposed plan to build the airport, which was expected to serve as an alternative to the congested Ninoy Aquino International Airport, was supposed to be presented to President Benigno Aquino in February, according to PAL President Ramon S. Ang. The airline, partially owned by San Miguel, had decided to wait for a clear policy from the government on the establishment of a new airport, Ang added.
- In April 2013, a consortium consisting of South Korea's Daelim Industrial, Philippines' DM Consunji and Optimal Infrastructure Development, a subsidiary of Philippine conglomerate San Miguel, was awarded the 30-year BOT (Build-Operate-Transfer) contract to implement the second phase of Ninoy Aquino International Airport (NAIA) Expressway project. This would be the third contract awarded under the PPP programme since its inception in end-2010 and the second PPP road project awarded - the first was the PHP1.96bn Daang Hari-South Luzon Expressway (SLEx) link road project. The PHP15.86bn project would involve the construction of a 4-lane, 7.75km elevated expressway and a 2.22km feeder road.
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Philippines Infrastructure Report Q3 2013 - New Report Available
Recently published research from Business Monitor International, "Philippines Infrastructure Report Q3 2013", is now available at Fast Market Research