Recently published research from Business Monitor International, "Philippines Infrastructure Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 11/10/2012 -- BMI View: The blistering increase in public construction investment in the first quarter of 2012 supports our view that conducive monetary conditions and robust government spending would bring real growth in the Philippine construction sector back to positive territory. Therefore, we are maintaining our forecasts for the sector, with real growth expected to reach 6.7% in 2012. Beyond 2012, we remain relatively positive towards the sector due to the government's growing ability to boost infrastructure spending as well as pertinent progress made with the government's public-private partnership (PPP) programme and key private sector projects.
Major developments in the Philippines' infrastructure industry include:
- In May 2012, Philippines' President Benigno Aquino III officially announced the formation of the Philippine Investment Alliance for Infrastructure (PInAI), a US$625mn fund aimed at providing financing for infrastructure projects under the government's PPP programme. PInAI is expected to be funded by Macquire Infrastructure and Real Assets, the Government Service Insurance System, the Asian Development Bank and Dutch pension fund asset manager APG.
- In May 2012, San Miguel awarded a consortium comprising of Philippines-based D M Consunji (DMCI) and Japan-based Marubeni the contract to construct the Metro Railway Transit System 7 (MRT-7) in Manila. The US$1.12bn MRT-7 contract is expected to start in the first quarter of 2013 and be completed in the second half of 2016.
- In June 2012, the tendering process for the Light Rail Transit (LRT) 1 public-private-partnership (PPP) project is under way, with more than 10 companies formally expressing their interest in the US$1.4bn project. The LRT-1 PPP project includes the operation and maintenance of the existing LRT-1 line and the construction of a 11.7km line extension.
- In June 2012, PNOC Exploration Corp., the upstream oil and coal arm of state run Philippine National Oil Corporation (PNOC), announced that it was seeking joint venture partners to develop two 100MW mine mouth coal-fired power plants worth US$400mn in Isabela and Zamboanga Sibugay. The tenders for the projects are expected to start early-August 2012.
- In July 2012, the Association of Mindanao Rural Electric Cooperatives Power Supply Aggregation Group (AMRECO PSAG) announced that its plan to construct a 300MW coal-fired power plant in Mindanao has attracted at least six bidder-groups.
- In June 2012, GN Power announced plans to invest around US$1bn to expand its 600MW coalfired power plant by constructing two additional 300MW generators at the existing sit in Mariveles, Bataan provinces. Construction of the two new generators is expected to begin in 2013.
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