San Miguel pushes ahead with Boracay bridge
The San Miguel group led by Ramon Ang is moving forward with the proposed Boracay bridge project after securing a notice of award (NOA) from the Department of Public Works and Highways (DPWH). This, despite strong opposition from the Aklan provincial government.
In a document dated March 25, the DPWH formally awarded to San Miguel Holdings Corp. (SMHC) the contract for the financing, design, construction, operation and maintenance of the 2.54-kilometer Boracay bridge project. This will be done under the Public-Private Partnership (PPP) framework.
The project carries an approved total cost of P7.78 billion, inclusive of financing costs.
SMHC was named the original and winning proponent following a competitive challenge process under Republic Act No. 11966, or the PPP Code of the Philippines.
Under the terms of the award, SMHC is required to submit post-award requirements within 20 calendar days from receipt of the notice. These include the posting of a performance security, proof of financing commitments and the formation of a special purpose company (SPC) that will serve as the concessionaire.
San Miguel Corp. chair and CEO Ramon Ang said the group would proceed with initial technical work for the project. He added that geotechnical studies would begin soon.
Addressing concerns over local opposition, Ang said the project remains a national government initiative.
“It’s a national government project so I hope the national government can convince them,” Ang told the Inquirer, referring to the Aklan provincial government.
The Sangguniang Panlalawigan ng Aklan earlier issued a resolution strongly rejecting the bridge proposal. It cited risks to Boracay’s fragile marine ecosystem and its limited carrying capacity.
