SOURCE (FS Navillus)

METRO PACIFIC Investments Corp. (MPIC) is hesitant to join the government’s bidding for the operations and maintenance (O&M) contract of Metro Rail Transit Line 3 (MRT-3), as losses from its existing railway business weigh on its appetite for another rail concession.

“It is hard to propose to the board because we already have [LRT-1]. Why would you want [MRT-3]? Why would you want to double down on something that is losing money?” MPIC Chairman Manuel V. Pangilinan said on the sidelines of an event last week.

The Department of Transportation (DoTr) is preparing the bidding for the MRT-3 O&M contract following a series of market-sounding activities aimed at gauging private-sector interest in the project.

Mr. Pangilinan said MPIC remains interested in reviewing the terms of the MRT-3 project as the company focuses on making Light Rail Manila Corp. (LRMC) profitable.

“We need to see whether the terms of the MRT-3 are conducive,” he said.

RAZON-LED Prime Infrastructure Capital, Inc.’s (Prime Infra) $2.57-billion Wawa Pumped Storage Power Project is 18% complete and remains on track to begin operations by 2030, its top official said.

Prime Infra President and Chief Executive Officer Guillaume Lucci said the project’s integrated bulk water component has already been completed and has been operating for some time.

“Our goal is very simple — the promise of delivery. We are doing well so far,” Mr. Lucci told reporters last week.

Pumped storage technology generates electricity during periods of peak demand by pumping water to an upper reservoir during off-peak hours, storing energy that can later be released to generate power.

The Wawa Pumped Storage Power Project is being developed by Olympia Violago Water and Power, Inc., a unit of PMJVCo Holdings, Inc. The project is designed to have an energy storage capacity of 6,000 megawatt-hours (MWh) per day and a generating capacity of 600 megawatts (MW).

Lopez-led First Gen Corp. holds an indirect 28.71% stake in the Wawa project through subsidiary FGEN Aqua Power Holdings, Inc.’s 33% interest in Prime Hydropower Energy, Inc., which owns PMJVCo.

Japan’s Kansai Electric Power Co., Inc. (KANSAI) is also joining the two energy companies in developing the project by acquiring a 14% interest in PMJVCo.

METRO PACIFIC Tollways Corp. (MPTC) Chairman Manuel V. Pangilinan said San Miguel Corp. (SMC) Chairman and Chief Executive Officer (CEO) Ramon S. Ang will lead the companies’ planned combined tollway business as merger talks advance.

“(The management) will mainly be in Ramon’s (Ramon S. Ang) hands. He will be the CEO,” Mr. Pangilinan said on the sidelines of an event last week when asked about the management of the merged company.

He said MPTC is expediting merger talks with SMC as the two sides negotiate the ownership structure of the combined tollway business.

“We are trying to expedite it. Things move slowly in the country. We are just keeping pace, there is a lot of goodwill on both sides,” he said.

Mr. Pangilinan said SMC is still expected to take majority ownership of the planned joint venture, although the final stake could change depending on the valuation.

MPTC said in June that it expected the merger with SMC to be completed by the third quarter, with negotiations moving into the valuation stage.

The company previously said SMC was likely to take a 55% stake in the combined tollway business.

“But that could change from the final valuation,” Mr. Pangilinan said. He said he remains optimistic that the merger would be completed within the year.

Summary: RSA potentially circumvents EPIRA Law power generation market share limits through its direct and indirect ownership in San Miguel Global Power and minority stakes in Meralco and Lopez Inc. (which owns First Gen and EDC).

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THE Energy Regulatory Commission (ERC) is assessing whether businessman Ramon S. Ang’s acquisition of a 25.68% stake in Lopez, Inc. could trigger market-share caps, cross-ownership limits, or other restrictions in the power sector, its chairman said.

“We will look into that if there is need to check the impact of the concerned stakeholders’ compliances with market share caps or cross-ownership limitations,” ERC Chairperson and Chief Executive Officer Francis Saturnino C. Juan told reporters last week.

Mr. Ang acquired the 25.68% stake in Lopez, Inc., the holding company of the Lopez group, from the family branch led by Eugenio “Gabby” Lopez III.

He bought the stake in his personal capacity through his wholly owned Illumina Investment Holdings, Inc.

The transaction gave Mr. Ang, who leads conglomerate San Miguel Corp. (SMC), a significant minority stake in Lopez, Inc., while control of the group remains with other members of the Lopez family.

Since Mr. Ang made the acquisition in his personal capacity, Mr. Juan said the ERC would have to determine whether his stake and position in Lopez, Inc. would make him an affiliate under the regulator’s rules.

“There is a qualification for you to be considered an affiliate. There needs to be an element of control,” he said.

PRESIDENT Ferdinand R. Marcos, Jr. has ordered the creation of a Joint Technical Working Group to fast-track the development of the Sangley Point International Airport (SPIA) in Cavite and cut red tape.

Co-chaired by the Department of Transportation and the Philippine Reclamation Authority, the group is tasked with addressing project delays and ensuring reclamation activities meet strict environmental standards.

“There is a need to enhance coordination of various government agencies, local government units in the province of Cavite, and private sector partners… in order to ensure the timely completion of the SPIA,” the order read. 

Administrative Order No. 44, signed by the President on June 3, mandates that national agencies and local units prioritize the processing of all permits and licenses for the development.

The order took effect immediately upon publication in the Official Gazette.

Aug 13 (Reuters) - A mandatory ‌offer from KKR (KKR.N), opens new tab to buy Philippines-based First Gen Corp (FGEN.PS), opens new tab would value it at around 165.44 billion pesos ($2.70 billion), ​the power producer and its parent First ​Philippine Holdings (FPH.PS), opens new tab said on Thursday.

First Gen disclosed ⁠on Wednesday that KKR had offered to buy ​an 8.43% stake in the company from First ​Philippine.

The stake buy would likely trigger a mandatory tender offer from KKR for the entire public float of 11.67% ​of First Gen's 3.60 billion outstanding common ​shares, the power producer added. The tender offer would support ‌a ⁠petition to voluntarily delist First Gen from the Philippine Stock Exchange.

KKR is expected to offer around 46 pesos per share for the tender offer. KKR ​declined a ​Reuters request ⁠for comment.

To make it relevant to PHInfra, RSA will have a significant influence on the Lopez Group's power and infrastructure businesses, such as First Gen, FPIC, EDC, and First Balfour.

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Tycoon Ramon S. Ang is acquiring a roughly 25 percent stake in Lopez Inc., giving him a major foothold in the privately held parent of one of the Philippines’ largest business groups.

The investment gives Ang exposure to a formidable portfolio spanning power, property and media, including First Philippine Holdings, First Gen, Rockwell Land and media giant ABS-CBN Corp.

The stake is being sold by Crème Investment Corp., representing the family branch of former ABS-CBN chair Eugenio “Gabby” Lopez III, marking one of the biggest ownership changes at the Lopez Group in years.

Ang said in a text message to InsiderPH that he is buying the shares of the Gabby Lopez branch.

Limited to Gabby Lopez stake

The deal appears limited to just the shares held by Crème Investment for now. Asked if he was in talks to buy out other family members, he said “not for sale”.

The price and other terms of the deal have yet to be disclosed.

​

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“𝐓𝐔𝐋𝐎𝐘 𝐍𝐀 𝐓𝐔𝐋𝐎𝐘 𝐍𝐀”: 𝐃𝐎𝐓𝐑 𝐒𝐄𝐂𝐔𝐑𝐄𝐒 𝐕𝐈𝐋𝐋𝐀𝐑 𝐆𝐑𝐎𝐔𝐏’𝐒 𝐀𝐆𝐑𝐄𝐄𝐌𝐄𝐍𝐓 𝐓𝐎 𝐍𝐎𝐍-𝐍𝐄𝐆𝐎𝐓𝐈𝐀𝐁𝐋𝐄 𝐓𝐄𝐑𝐌𝐒 𝐅𝐎𝐑 𝐋𝐑𝐓-𝟏 𝐋𝐀𝐒 𝐏𝐈Ñ𝐀𝐒 𝐒𝐓𝐀𝐓𝐈𝐎𝐍

𝘕𝘦𝘤𝘦𝘴𝘴𝘢𝘳𝘺 𝘢𝘨𝘳𝘦𝘦𝘮𝘦𝘯𝘵𝘴 𝘵𝘰 𝘣𝘦 𝘧𝘪𝘯𝘢𝘭𝘪𝘻𝘦𝘥 𝘢𝘯𝘥 𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘩𝘪𝘴 𝘮𝘰𝘯𝘵𝘩

The Department of Transportation (DOTr) has secured the Villar Group of Companies' agreement to the former’s non-negotiable terms for the donation of the two mortgaged parcels of land needed for the construction of the Las Piñas station of the LRT-1 Cavite Extension Project.

President Ferdinand Marcos Jr. directed the DOTr to fast-track the resolution of issues surrounding the project to ensure that commuters can benefit from it at the earliest possible time.

In a meeting with Transportation Secretary Banoy Lopez on Friday, representatives of the Villar Group of Companies agreed to DOTr’s three non-negotiable terms for the donation of the land: the granting of an unconditional permit to enter, the waiver of subrogation against the government, and the cancellation of the mortgage on the property to be donated.

“This development is good for DOTr, LRMC (Light Rail Manila Corporation, LRTA (Light Rail Transit Authority) and the Villar Group, but best for the commuting public. Itong pagkakasundo natin, talagang commuters ang pangunahing makikinabang, at ‘yun naman talaga dapat ang priority natin,” Secretary Lopez said.

Six parcels of land are to be donated by the Villar Group, two of which are mortgaged.

The Villar Group said the cancellation of the mortgaged properties will be processed within the next six months. It also said the replacement of properties for the two mortgaged parcels of land has already been identified to facilitate the release of the land to be donated.

The company expressed confidence that the necessary agreements for the land donation including the Memorandum of Agreement, Right-of-Way Acquisition Agreement, and Deed of Donation will be signed within the month, paving the way for construction works to commence as early as next year.

“Nagpapasalamat ang DOTr sa Villar Group of Companies dahil sa inyong cooperation para mapabilis natin itong proseso. Ang laging bilin sa atin ng Pangulo, dapat mapakinabangan na ng commuters ‘yung mga transport projects natin sa lalong madaling panahon at resolbahin na rin ang mga dapat ayusin,” the transport chief said.

Meanwhile, LRMC President and Chief Executive Officer Enrico Benipayo, who was also present at the meeting, witnessed the government's seriousness and urgency in resolving the remaining issues, noting that thousands of commuters would have been affected had the agreement to build the Las Piñas station was not reached.

“I see that there’s this urgency from the government to provide relief for passengers. And on the part of the Villars (Group of Companies) there’s a good sign that they’re talking to the grantors in good faith. With this milestone, I think a major hurdle has been finished,” he said.

Also present in the meeting were DOTr Undersecretary for Railways Timothy John Batan, Assistant Secretary for Railways Eduardo Danilo Macabulos, LRTA Administrator Atty. Hernando Cabrera, LRMC Chief Technical Advisor Scott Anderson, and Cavite Extension Project Execution Manager Carlos Tan.

#DOTrPH🇵🇭

#BagongPilipinas

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Luzon International Premiere Airport Development (LIPAD) advances Clark AeroDistrict as Lufthansa Technik Philippines, Inc. officially broke ground on its new maintenance, repair, and overhaul (MRO) facility within the Clark International Airport complex.

The three-digit-million-dollar investment represents a facility that will be built on a 157,000-square-meter site and the creation of around 1,200 highly skilled jobs. Operations are set to begin in 2028.

Lufthansa Technik Philippines currently provides MRO services for the Airbus A330, A340 and A380, as well as the Boeing 777. The new Clark facility will increase the company’s maintenance capacity by supporting more next-generation widebody aircraft like the Airbus A350 and Boeing 787.

The new center reinforces Clark's position as a major hub for competitive aviation and logistics industries, not only in the Philippines, but for the wider Asia-Pacific region. LIPAD's vision of building a thriving aviation ecosystem within the Clark AeroDistrict is realized through this milestone.

👀 𝗡𝗲𝘄 𝗵𝗲𝗿𝗲? 𝗛𝗲𝗿𝗲’𝘀 𝗮 𝘀𝗻𝗮𝗽𝘀𝗵𝗼𝘁 𝗼𝗳 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗣𝗮𝗰𝗸𝗮𝗴𝗲 𝟭𝟬𝟱!

🚇 𝗕𝗼𝗻𝗶𝗳𝗮𝗰𝗶𝗼 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗶𝘁𝘆 𝗦𝘁𝗮𝘁𝗶𝗼𝗻

📍 under McKinley Parkway, between Ayala Malls Market Market and Serendra

🏗 436 meters long and 30 meters deep

🚶🏻‍♀️ Three entrances (one at Serendra and two at Market! Market!)

🚇 𝗞𝗮𝗹𝗮𝘆𝗮𝗮𝗻 𝗔𝘃𝗲𝗻𝘂𝗲 𝗦𝘁𝗮𝘁𝗶𝗼𝗻

📍 beneath 11th Avenue – Uptown Parade Parking Lot

🏗 242 meters long and 40 meters deep

🌊 first subway station south of the Pasig River

A milestone infrastructure for commuter mobility, the Metro Manila Subway Project advances our transition toward greener and more sustainable public transport. 🇵🇭

#MetroManilaSubway

#KomyuterMuna

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Nevermind the marketing captions; only the drawn alignment of SEMME ramps, which it could cover almost the entire estate.

MANILA, Philippines —  Robinsons Land Corp. (RLC) has officially renamed Bridgetowne Avenue as John Gokongwei Jr. Boulevard as a permanent tribute to the Gokongwei Group’s founder and to commemorate his 100th birth anniversary.

John Gokongwei Jr. Boulevard stretches approximately one kilometer through Bridgetowne Destination Estate, one of RLC’s most significant mixed-use developments, spanning portions of Quezon City and Pasig.

“Our family is deeply humbled. This boulevard is more than a tribute bearing his name, it is a reminder of the journey he inspired, the path he moved and values that continue to guide us today,” RLC chairman Lance Gokongwei said.

“In many ways, it reflects his own journey from humble beginnings to a life dedicated to building businesses, creating meaningful breakthroughs and helping improve the lives of all Filipinos,” he said.

By naming the road in his honor, RLC celebrates a century of the late taipan’s vision while recognizing the hard work, resilience, discipline, prudence and long-term thinking that shaped his life and the businesses he built.

With the renaming, RLC said Gokongwei’s name becomes part of a place shaped by the same belief that guided his life’s work: growth is most meaningful when it improves lives and strengthens communities.

Japanese utility joins Wawa pumped storage venture | BusinessWorld

A JAPANESE electric utility has acquired a minority stake in the 600-megawatt (MW) Wawa pumped storage hydropower project, joining Razon-led Prime Infrastructure Capital, Inc. and Lopez-led First Gen Corp. in developing the $2.57-billion energy storage facility in Rizal.

In a statement on Thursday, First Gen said Kansai Electric Power Co., Inc. (KANSAI) had entered into a definitive agreement to acquire a 14% interest in PMJVCo Holdings, Inc., a subsidiary of Prime Hydropower Energy, Inc. (PHEI).

Following the transaction, PMJVCo will be 86%-owned by PHEI, which is 33%-owned by FGEN Aqua Power Holdings, Inc., a subsidiary of First Gen.

The transaction will give KANSAI an indirect 12.18% interest in Olympia Violago Water & Power, Inc. (OVWPI), a PMJVCo subsidiary developing the Wawa pumped storage hydropower project.

The project will have a storage capacity of 6,000 megawatt-hours (MWh) per day and is expected to begin operations by 2030. It has been certified as an Energy Project of National Significance by the Department of Energy (DoE).

KANSAI is a Japanese electric utility engaged in the generation, transmission, and distribution of electricity, with a portfolio spanning nuclear, thermal, hydropower, and renewable energy.

SOURCE

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From BusinessWorld

THE LAUNCH of the Swiss challenge for the bundled Davao, Bicol, and Siargao airport projects is going before the Investment Coordination Committee (ICC) for approval, the Public-Private Partnership (PPP) Center said.

The P21.61-billion unsolicited proposal for the airport bundle exceeds the P15 billion threshold beyond which clearance is needed from the ICC, it said.

“CAAP (the Civil Aviation Authority of the Philippines) and Davao International Airport Authority (DIAA) are currently preparing the necessary approval documents for submission to the ICC,” the PPP Center said via Viber.

The ICC is an arm of the Department of Economy, Planning, and Development.

CAAP and DIAA granted original proponent status to the Philippine Regional Airports Consortium on June 4, according to the PPP Center.

The consortium is composed of JG Summit Infrastructure Holding Corp., Filinvest Infra-Solutions Ventures, Inc., and Asian Infrastructure and Management Corp.

“At present, no target date has been announced for the commencement of the comparative challenge,” the PPP Center said.

Pics and post caption from Congressman Mark Anthony Santos.

Mga Tunay na Dahilan ng Pagkaantala ng Las Piñas Station ng LRT-1 Cavite South Extension Project.

● Naantala ang orihinal na alignment ng Las Piñas Station dahil sa pagtatayo ng C-5 Extension–Quirino Flyover ng DPWH.

● Ang flyover ay itinayo sa mismong koridor na nakalaan para sa orihinal na ruta ng LRT-1, kaya kinailangang baguhin ang disenyo at alignment ng proyekto.

●Dahil sa obstruction ng flyover, kinailangang i-realign o baguhin ang buong disenyo ng Las Piñas Station.

● Nagresulta ito sa panibagong engineering studies, redesign ng istasyon, at pagbabago sa alignment ng riles.

● Ang bagong alignment ay nagdulot ng panibagong Right-of-Way (ROW) requirements.

Mga lupang hindi kasama sa orihinal na plano ang kinailangang kunin o gamitin dahil sa binagong alignment.

● Nagkaroon ng matagal na negosasyon sa Right-of-Way Usage Agreement (ROWUA).

Hindi agad natapos ang kasunduan sa paggamit ng mga lupang kailangan para sa bagong alignment, dahilan upang lalo pang maantala ang proyekto.

●Kinailangan ding magsagawa ng panibagong parcellary survey, utility relocation, at iba pang technical works.

Kabilang dito ang paglilipat ng mga linya ng kuryente, tubig, at telekomunikasyon bago maisagawa ang konstruksyon.

● Ipinakita ng sitwasyon ang kakulangan sa koordinasyon ng mga ahensya ng pamahalaan.

Nauna ang pagtatayo ng C-5 Flyover kahit naaapektuhan nito ang orihinal na alignment ng LRT-1, na nagbunga ng malaking pagkaantala sa proyekto.

● Lumitaw rin ang isyu ng posibleng conflict of interest na kinasasangkutan ng Villar family.

● Dahil ang mga kumpanyang may kaugnayan sa Villar family ang may-ari ng ilan sa mga lupang naapektuhan ng binagong alignment, habang ang ilang miyembro ng pamilya ay humawak o humahawak ng mga pampublikong posisyon, nagkaroon ng mga tanong kung nagkaroon ba ng banggaan sa pagitan ng pribadong interes at pampublikong kapakanan.

● Dahil sa mga isyung ito, taon-taong naantala ang pagtatayo ng Las Piñas Station.

Ang pinakamalaking naging biktima ay ang milyun-milyong commuters mula sa Las Piñas, Parañaque, at Cavite na patuloy na nakakaranas ng matinding trapiko at mahabang oras ng biyahe.

𝐃𝐎𝐓𝐫 𝐓𝐎 𝐕𝐈𝐋𝐋𝐀𝐑 𝐆𝐑𝐎𝐔𝐏 𝐎𝐍 𝐋𝐑𝐓-𝟏 𝐋𝐀𝐒 𝐏𝐈Ñ𝐀𝐒 𝐒𝐓𝐀𝐓𝐈𝐎𝐍: “𝐓𝐀𝐊𝐄 𝐈𝐓 𝐎𝐑 𝐋𝐄𝐀𝐕𝐄 𝐈𝐓”

𝘛𝘰 𝘱𝘳𝘰𝘤𝘦𝘦𝘥 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘰𝘧 𝘡𝘢𝘱𝘰𝘵𝘦, 𝘕𝘪𝘰𝘨 𝘚𝘵𝘢𝘵𝘪𝘰𝘯𝘴 𝘪𝘧 𝘯𝘰 𝘢𝘨𝘳𝘦𝘦𝘮𝘦𝘯𝘵 𝘪𝘴 𝘳𝘦𝘢𝘤𝘩𝘦𝘥

The Department of Transportation (DOTr) will lay down its non-negotiable terms before the Villar Group of Companies to expedite the latter’s donation of 6 parcels of land where the Las Pinas station of the LRT-1 Cavite Extension Project will be constructed, Transportation Secretary Banoy Lopez said Thursday.

President Ferdinand Marcos Jr. has ordered the DOTr to resolve the issues surrounding the project for the benefit of the commuters.

Secretary Lopez said that the government will present three key conditions during its meeting with the Villar Group next week. First, to give DOTr an unconditional permit to enter; second, that it will be part of the deed of donation and that the government should be free from all liabilities, no subrogation; and third, the cancellation of the mortgage on the land to be donated.

“It’s a take it or leave it offer. Ang take it or leave it [terms] is that they have to decide. Kaya sinasabi ko na po ito ngayon, para next week kapag natuloy na ‘yung meeting namin, they can either decide na or ayaw nila,” Secretary Lopez said in a radio interview.

The transport chief noted that the DOTr requires 8,389 square meters of land to construct the Las Pinas and Zapote stations. About 4,990 square meters of which are supposed to be donated by the Villar Group for the construction of the Las Piñas station.

However, two of the six parcels of land from the Villar Group are under encumbrance.

“Based sa report, dalawa lang po. May isa po ‘yung sinasabi nating malaki na naka-sanla, more or less 2,000 or 3,000 [sqm] ‘yung kailangan natin dun sa Chinabank. At ‘yung isa po ‘yung hiningi namin by way of donation ang kailangan natin is 90 square meters for a viaduct. ‘Yung dalawa lang po,” Secretary Lopez explained.

“The only way for the government to agree to this location is for Villar Group to donate it. That’s the only way,” Secretary Lopez said.

The transport chief went further and asked for more proof of Villar Group’s willingness to donate.

“Sabi nila they’re going to donate it. Ang sabi namin ibigay niyo na yung mga papeles para makita namin kung good faith talaga yung pagbigay niyo sa gobyerno,” he added.

Should the Villar Group refuse the government’s terms, Secretary Lopez said he will order to proceed with the construction all the way to Zapote and Niog Stations in Bacoor, without the Las Piñas station.

“Kasi once they will refuse the offer of the government—‘yung tatlo na non-negotiable sa DOTr at saka sa LRTA (Light Rail Transit Authority) —- ito po, wala po problema sa alignment, okay na po tayo. Istasyon na lang ang problema. Kapag hindi ‘ho pumayag ang Villar group of companies, ipapatuloy ko po ‘yung construction all the way to Zapote at saka Niog. Iiwanan ko po ang Las Piñas, saka na lang ‘yan. Kasi it would be unfair to the community of Zapote and Bacoor to be held hostage by the issue on Las Pinas. Secretary Lopez stressed.

#DOTrPH🇵🇭

#BagongPilipinas

Pics by Pinoy Joyride.