SP approves joint venture agreement

Philippine Standard Time:

SP approves joint venture agreement

The Sangguniang Panlalawigan ng Bataan presided by Vice Governor Cris Garcia has passed a resolution authorizing Gov. Joet Garcia to award the Private-Public -Partnership (PPP) project and to enter into and execute a Joint Venture Agreement with Premium Megastructures Inc. (PMI) for the development of 235 hectares Mariveles Bay Reclamation and Future Transshipment Hub in the Province of Bataan.

The provincial legislative body adopted the resolution in a special session Wednesday a week ago. Bataan PPP and Investment Center Investment Hub Head Abul Khayr Alonto II said the next step is for PMI to comply with the requirements of the national government and the local government of Mariveles. He said the Detailed Engineering Design of the project must be first accomplished. He said all the requirements must be realized before the Notice to Proceed be issued. Alonto said PMI will be actually doing the reclamation works only and the transshipment hub could be built by other industry player. ‚ÄúThat is why we put Future Transshipment Hub in the project title to make sure that the reclaimed land would be used for that purpose only‚ÄĚ, he explained. The project is seen to become the largest transshipment hub in the country that could accommodate Panamax vessels.

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