Chinese investors eye Ayala as partner
Conglomerate Ayala Corp. said it has been approached by some Chinese investors for possible partnerships in real estate and infrastructure after relationship between the Philippines and China improved.
“We are always assessing and looking. We do have a fairly extensive relationship and a lot of trust at very senior level with Chinese companies that would lead relationship in the future,” Ayala Corp chairman Jaime Augusto Zobel de Ayala said.
Ayala Infrastructure Holdings president and chief executive Rene Almendras said a few Chinese investors expressed interest in teaming up with the conglomerate for rail projects.
Almendras, meanwhile, said the P25-billion unsolicited elevated expressway project of AC Infrastructure Holdings Corp., a wholly-owned subsidiary of Ayala, and SM Investments Corp. was being reviewed by the Public Works Department.
“We have received acknowledgement from the Transportation department that they received our unsolicited proposal. They are now evaluating our proposal,” he said. said.
Almendras also said several companies have expressed interest in joining Ayala Corp. and SM Investments in the project.
“They liked the project and they are willing to partner with us,” he said.
The project aims to operate and maintain the toll road called C3 Elevated Expressway (C3 Ex) for a period of 35 years.
The project plans to provide an alternative road to congested Edsa and improve access to the Manila Bay development areas, the Makati central business district and the cities of Mandaluyong, San Juan and Manila.
It will have interchanges in Sta. Mesa, the Circuit Makati, Ayala-Gil Puyat, Roxas Boulevard and the SM Mall of Asia complex. The project could cut the travel time from one hour to only 15 minutes from Quezon City to Makati City.
The elevated toll road will run about 8.6 kilometers, linking Sta. Mesa, Manila to the Mall of Asia complex in Pasay City.
Aside from C3 Ex, the conglomerate plans to submit two more unsolicited proposals to the Duterte administration, including one in Mindanao.