Three major real estate developers and one investment firm have banded together to bid on the Laguna Lakeshore Expressway and Dike Project (LLEDP). The four companies – holding firm Aboitiz Equity Ventures and property giants Megaworld Corporation, SM Prime Holdings, Inc., and Ayala Land, Inc. have formed Trident Infrastructure and Development Corporation (TIDC) to submit a competitive bid proposal for the Php 123.8 billion project.
“Team Trident”, as the consortium is called, will have an equal four-way share of the project, which is said to be the biggest public-private partnership project of the Aquino administration.
The LLEDP will include building a 47-kilometer expressway and a 45-kilometer flood control dike. Through the project, 700 hectares of land in the western part of Laguna Lake will also undergo reclamation.
In a statement from Megaworld, working together with allow the four companies to benefit from “the combined financial muscle” as well as each group’s “national and international network of experts”, saying that it will in turn offer assistance to the businesses and individuals along the western shore of Laguna de Bay.
The Laguna Lakeshore Expressway Dike Project (Source ppp.gov.ph)