AG&P Industrial and Visayas NECEBOLEY Interlink Holdings Corp. (VNIHC) signed an exclusive memorandum of understanding for project management, construction and delivery of the $15-billion infrastructure project connecting four major islands in the Visayas.
AG&P Industrial said in a statement the infrastructure project would connect Negros, Cebu, Bohol and Leyte through an all-weather state-of-the-art bridges and expressways network. The project will start in the second quarter of 2024.
The project will be supported by a private consortium of global partners who will finance, design, construct, operate and maintain the bridges, road and mass transit network composed of four lane bridges with expanded expressways.
The consortium will also undertake the building of pipes, ducts and landing stations to accommodate for lease the installation of the national electric grid high voltage power transmission cables, the high cap flow industrial grade water pipes and the multiple core fiber optic telecommunications.
Other sources of project income will be derived from reclamation development, water supply, power wheeling charges, communications, mass transit, and real estate development.
“AG&P is the cornerstone of the Filipino construction industry. We built many of the country’s signature structures, including the Ayala Bridge, the first steel bridge, Manila’s water and sewage systems, Araneta Coliseum, national monuments and other historical landmarks, including the first LNG import terminal of the Philippines commissioned in 2023,” said AG&P Industrial president Alex Gamboa.
“We are privileged to partner with VNIHC for Project NECEBOLEY that will lay the Philippines’ iconic infrastructure for interconnectivity by land within the region, solving for access across Visayas. Pivotal to the country’s economy, Project Neceboley will transform Visayas into a thriving business hub and accelerate socio-economic development, improving the lives of millions of Filipinos,” he said.
As the project proponent, VNIHC will procure the requirements, plan and reporting in accordance with the rules, regulations and policies of the LGUs and engage AG&P Industrial in pre-proposal conferences, post-award meetings with LGUS and other government institutions to ensure alignment of obligations upon award of the Project.
AG&P Industrial will also be provided access to contract specifications for reviewing accuracy and technical assistance during pre-solicitation, pre-bid and post award conferences.
Angel Pio Veloso Jr., Chairman OF VNIHC, said the the project encompasses the development, operation and maintenance of a 238.05-km state- of-the-art, all-weather bridges and expressways network to establish vital connectivity among the major islands of the Visayas region.