r/PHInfra

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.

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.

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.

LRT 2 East Extension - Additional stations in SM Chery, Blue Mountain and Cogeo. Any update po?

Interviewed on Bilyonaryo News Channel’s “At the Forefront” program, PNRI Director Valerie Samson said communities could be hesitant to host nuclear facilities because of limited understanding of the technology, including its potential benefits and safety measures.

“The hesitation of hosting a nuclear power plant is of course the community that doesn’t know anything about nuclear and they are not aware of the benefits of hosting a nuclear power plant in their locality,” Samson said.

“It is the task of the Nuclear Energy Program Interagency Committee to educate our local stakeholders on nuclear,” she added.

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.

---

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.