Metro Pacific chairman eyes possible investments in Cebu
Aside from plans to invest in a hospital in Cebu, Metro Pacific Investments Corp. (MPIC) chairman Manuel V. Pangilinan has also expressed interest in other areas of investment opportunities in Cebu.
Water supply and distribution, power distribution, improvement of the Mactan-Cebu International Airport through privatization and a light railway transit (LRT) project connecting Mactan to central Cebu were mentioned by Pangilinan as investment opportunities here during a press conference following the Philippine Long Distance Telephone (PLDT) Co. stockholders’ meeting last Tuesday at the Dusit Thani Hotel in Makati.
Pangilinan said there were initial talks on a water project in Cebu although he did not elaborate on the details. He noted, however, that water rates in Cebu are expensive.
He said there were no talks held on power distribution opportunities here.
Privatizing the operations of the Mactan-Cebu international airport would also mean improving the airport facility including its runway, Pangilinan said.
Pangilinan reiterated on Metro Cebu’s need for a mass transport system when he remarked “Why don’t you build an LRT (light railway transit) from Mactan to the central part of Cebu instead of a planned third bridge?”
Development planners previously mentioned connecting Cebu through Cordova town and Bohol via Getafe town by building a multibillion-peso bridge. A feasibility study on the project has yet to be conducted.
On the mass transport system project, Cebu leaders have been locked in a debate on whether to build an LRT or a Bus Rapid Transit (BRT).
Meanwhile, there has been no progress yet on the hospital project in Cebu. Two years ago, Pangilinan said the publicly listed firm is looking at building a P1.5 billion “spa-like” hospital in Cebu. However previous talks with possible partners fell through.
MPIC, an infrastructure-holding company, is also eyeing investment opportunities in other parts of the country. Aside from taking keen interest in the international airport project in Clark, Pampanga, it is also bidding for commuter train projects in Metro Manila.
During the press conference, Pangilinan also revealed MPIC’s areas of interest in Negros Occidental like mining operations near Sipalay town and a water system in Bacolod City.
Metro Pacific Investments is the Philippine investment arm of the Hong Kong-based First Pacific Group which has substantial investments not only in the Philippine Long Distance Telephone Co. but also in Manila Electric Co., Maynilad Water Services, Metro Pacific Tollways Corp. and some key hospitals in other parts of the country. Thea C. Riñen
