Cebu Town Welcomes Unsolicited PPP Proposal from Malta’s Litogini Group2 min read
Online Manila | Cebu Town Welcomes Unsolicited PPP Proposal from Malta’s Litogini Group | Consolacion, Cebu Mayor Teresa Alegado, through her special project consultant, Dr. Rey Martinez, PhD, announced the intention of the Litogini Group from Malta to finance and invest in the town under an unsolicited PPP (Public Private Partnership) proposal.
According to Dr. Martinez, the implementation of the new Cebu International Container Port in Tayud, will give rise to tremendous traffic congestion. Dr. Martinez said that the need for an Light Rail Transit (or LRT) will be needed to help ease the traffic congestion.
Mayor Alegado on the other hand, said Metro Cebu is seen as an area of opportunity for investments as it is poised for bullish economic growth in view of its st
rategic location at the heart of Cebu, as well as the Philippines. Mayor Alegado welcomes the proposal of the Litogini Group Ltd. to finance and invest through an unsolicited PPP scheme.
The following projects are targeted for the said PPP:
1. Cebu LRT – a 70 km. distance elevated railway from Carcar to Danao. A feasibility study was conducted in 2000 (23 years ago) to help solve the impending traffic congestion
2. Mandaue-Consolacion-Liloan by-pass road and viaduct – a Seafront City reclamation project to set up an economic free zone
3. Cebu Expressway – a 130 km. expressway crossing the mountains from north to south of Cebu
Dr. Martinez said the Litogini Group sent a letter of intent (LOI) to Finance Secretary Benjamin Diokno, apparently received last September 7, 2022. It is under the country investment plan 2022-2032 of the Litogini Group. However, as of this writing, they are still waiting for a formal reply from the said department (DOF) on the next steps to be able to proceed, if ever.
Mayor Alegado is hopeful that the national government agencies concerned will also help them and act on the opportunity offered to them by the Litogini Group to help stir the development of provinces such as theirs.