Proponents of the San Ramon Newport Project in Zamboanga City have signed up UK-based public-private partnership consulting firm BDO LLP as transaction advisor, the PPP Center said on Friday.
BDO LLP, a market leader in financial modeling and PPP project structuring, will help the Zambaonga City Special Economic Zone and Freeport Authority (ZamboEcozone) prepare the feasibility study, including transaction documents, and manage the PPP bidding process.
The seaport project, which is covered by the build-operate-transfer Law, involves the financing, design, construction, and operation and maintenance of a world-class seaport within the ZamboEcozone by a private partner.
It is expected to boost the competitiveness of ZamboEcozone, generate more economic activity, and contribute to the development not only of Zamboanga but the whole of the Mindanao.
“Engaging an internationally acclaimed consulting firm like BDO LLP through our Project Development and Monitoring Facility is a step towards helping Zamboanga realize its full potential as an international port destination,” PPP Center Executive Director Ferdinand Pecson said.
“It is our hope that this PPP project will help Mindanao accelerate its growth, bringing those in the fringes of development into the mainstream of economic progress,” he added.
During the 2nd Annual Philippines Energy and Infrastructure Finance Forum on Thursday, Pecson noted the PPP initiative will continue despite the shift towards negotiated bids, budget appropriation, and official development assistance in infrastructure development.
The private sector has 21 PPP projects to choose from under the Duterte administration, compared with 40 under the Aquino administration, the PPP Center noted.
“Even with the shift, PPP in the Philippines is still very much alive. Private sector participation in infrastructure will always be there,” Pecson said.