BCDA-Alloy MTD set to pick contractor for Clark complex
Malaysia-based Alloy MTD Group expects to award soon a Filipino contractor for the development of the 220-hectare National Government Administrative Center (NGAC), a company official said.
Alloy MTD acting chief executive officer Tee Kim Siew told reporters that the group is on the verge of awarding a local contractor for Phase 1a and 1b of the NGAC in the New Clark Green City.
He said the group is in talks with a number of potential Filipino contractors.
“Safe to say we will secure one contractor,” Siew said.
Malaysia-based MTD Capital Berhad is partnering with the Bases Conversion and Development Authority (BCDA) for the development of the NGAC within the New Clark Green City.
The NGAC involves the development of back-up offices of various government agencies to ensure continuous business operations in case of calamities and disasters.
The project will be modeled after Malaysia’s Putrajaya and South Korea’s Sejong City. It is envisioned to help ease the traffic gridlock and overpopulation in the capital.
Phase 1a includes the construction of a 40-hectare worldclass sports facility complex which will be used for the Southeast Asian Games in November 2019.
Alloy recently broke ground for the project last January.
Total development cost of Phase 1a is targeted at around P13 billion.
Alloy MTD Philippines president Patrick Nicholas David earlier said the company is planning to secure a P9.5 billion loan to partly fund the project.
Around P4 billion of the development cost will be financed by equity.
Total development cost of Phase 1a was estimated at around P13 billion.
Siew said the Malaysian company’s participation would only be for Phase 1a and 1b of the project.
He added phase 1b would only commence once construction of the earlier phase is completed.
Asked if the Malaysian firm is eyeing other projects in the Philippines, Siew said the company would like to focus on the Clark project.
Earlier this week, the Philippine Competition Commission approved the joint venture between MTD Capital Berhad and the BCDA for the 220-hectare project.