Lopezes, Consunjis form new company for infra projects

The Lopezes and Consunjis, through First Balfour Inc. and DMCI Holdings Inc., respectively, have formed a P1-billion company to serve as the corporate vehicle for infrastructure projects they intend to jointly undertake.

The new company called Private Infra Dev Corp. is seeking business registration with the Securities and Exchange Commission (SEC).

First Balfour, a subsidiary of First Philippine Holdings Corp., and DMCI are eyeing the construction of the $430-million Subic-Clark-Tarlac Expressway (SCTEX) in Central Luzon.

Based on documents submitted, Private Infra will engage in the business of “construction and development of various infrastructure projects of whatever kind and nature and wherever located within and outside the Philippines such as but not limited to roads, highways, toll roads, freeways, skyways, flyovers, interchanges, port harbors, water and sewerage treatment plants, underground railways and other mass transport system and facilities.”

Out of the P1 billion authorized capital stock, P250 million has been subscribed while P62.5 million has been paid for.

The SCTEX is a 93.77-kilometer four-lane expressway which starts in the Subic Bay Freeport Zone in Zambales and ends at its interchange with the North Luzon Expressway. It aims to connect the ecozones of Subic and Clark and the Hacienda Luisita in Tarlac.

Aside from the First Balfour-DMCI consortium, other companies vying for the 10-year operation and maintenance of the SCTEX are Metro Pacific Investments Corp., Ayala Property Management Corp., Mideast Alliance Resources Corp., SBC Lavalin International, Ausphil Tollways Corp., Pacific Concrete Products, Inc., UEM-MARA Philippines Corp, STAR Infrastructure Development Corp., J.V. Angeles Construction Corp., and Piertas Builders Inc.

The completion of the SCTEX is expected to make the Philippines among Asia’s best logistics hub and could become an efficient marketing venue for Philippine products since both Subic and Clark have high quality infrastructure.

The SCTEX will provide shorter travel time leading to faster transportation of goods between the two economic zones.

Other projects the two groups are eyeing include the extension of the Light Rail Transit which will connect LRT line 1 in Caloocan City to the Metro Rail Transit line 3 along Edsa in Quezon City, and the 50 million liter per day bulk water supply project in Bicutan.