Philippines Infrastructure Industry Update Quarter 3 2012

  • July 2014
  • -
  • Business Monitor International
  • -
  • 121 pages

Includes 3 FREE quarterly updates

BMI View: The sharp increase in public construction investment seen in Q411 is giving us cause to believe that the Philippine government will carry out its plan to boost infrastructure spending in 2012.
Combined with improved monetary conditions, we remain convinced that real growth for the Philippine construction segment could return to positive territory, with real growth projection to reach 6.6% in 2012.
However, we are growing increasingly concerned with the lack of progress in regards to the country’s public-private partnership (PPP) programme and, as a result, we have revised down our projections for construction real growth from 7.5% to 7.2% per year between 2013 and 2016.
Major developments in the Philippines’ infrastructure market include: - In February 2012, the Philippine Light Rail Transport Authority (PLRTA) had announced that it will commence a tendering process for Metro Manila's PHP60bn (US Dollar 1.4bn) Light Rail Transit Line 1 (LRT-1) extension project during H112, reports The project involves the construction of a new 11.7km section of line between Baclaran and Cavite, and the winning bidder will also be responsible for the operation and maintenance of the entire LRT-1 network. The line extension will include eight new stations, three intermodal facilities and one satellite depot. The project has received interest from San Miguel, Ayala Corporation and
Metro Pacific Investments Corporation. - In March 2012, the National Grid Corporation of the Philippines (NGCP) announced that it was scheduled to make an investment of nearly PHP100bn (US Dollar 2.34bn) over a ten-year period to set up new transmission lines and substations, as well as grow existing facilities nationwide.
This will enable the NGCP to provide power transmission more efficiently and increase power generation capacity in the areas involved. The NGCP is aiming to invest between PHP95.8bn (US Dollar 2.24bn) and PHP102.8bn (US Dollar 2.4bn) in six major transmission line expansion projects under the Transmission Development Plan from 2011 to 2020, according to Giovanni Galang, the deputy department manager of the NGCP's Transmission Planning department. Galang added that most of the projects are scheduled to be concluded within five to eight years, with the NGCP to make four of the six major investments in Luzon.
- In April 2012, Philippine holding industry player Ayala was awarded a 30-year contract for the first PPP expressway project. Work comprises the construction, operation, and maintenance of a fourkilometre (km) link road for the Daang Hari-South Luzon Expressway. Construction will begin in mid-2012, with the link road scheduled to open by the end of 2013. As for the other PPP expressway projects, the Philippines Department of Public Works and Highways (DPWH) is planning to invite bids for the NLEX-SLEX road link in July 2012 and the 5.2km NAIA Expressway Phase 2 Project in Q412.

Table Of Contents

BMI Market View 5
Industry SWOT Analysis . 6
Philippines Infrastructure SWOT ... 6

Industry Analysis ... 7
Philippines .. 7
PPP Moves Slowly . 7
Regulations, Not Incentives 8
Data : EQS Data.. 11
Building Materials .. 12
World ... 12
Asia ... 15
Cement Projections . 20
Data : Philippines Cement Production and Consumption Data, 2009 - 2016 .. 20
Data : Philippines Cement Production and Consumption Long Term Projections, 2014 - 2021 20
Data : Philippines Construction And Infrastructure Market Data, 2008 - 2016 21
Data : Philippines Construction And Infrastructure Market Long Term Projections, 2013 - 2021 .. 22
Construction And Infrastructure Projection Scenario . 24
Transport Infrastructure 29
Transport Infrastructure Outlook and Overview ... 29
Data : Competitiveness Of Philippines's Infrastructure ... 29
Major Projects Data - Transport 34
Energy And Utilities Infrastructure ... 39
Energy And Utilities Infrastructure Outlook and Overview .. 39
Major Projects Data - Energy And Utilities 47
Residential/Non-Residential Construction and Social Infrastructure .. 55
Residential/Non-Residential Construction and Social Infrastructure Outlook And Overview ... 55
Major Projects Data - Residential/Non-Residential Construction And Social Infrastructure . 58
Risk/Reward Ratings .. 59
Philippines Risk/Reward Ratings .. 59
Rewards ... 59
Risks 59
Regional Overview 60
Asia Pacific Infrastructure Risk/Reward Ratings . 60
Data : China, India, Indonesia - BMI Interest Rate Views ... 62
Data : Emerging South East Asia - BMI Interest Rate Views... 66
Data : Nearly Developed Asia - Bmi Interest Rate Views 66
Data : Regional Infrastructure Risk/Reward Ratings .. 68
Company Monitor ... 69
EEI Corporation .. 69
First Philippine Balfour Beatty Inc (First Balfour) .. 71
San Miguel Corporation (SMC) ... 73
World Overview . 79
Methodology ... 86

Market Projection s 86
Construction Market .. 87
Data Methodology ... 87
New Infrastructure Data Sub-sectors ... 87
Construction 88
Capital Investment ... 89
Construction Segment Employment . 90
Infrastructure Risk/Reward Ratings .. 90
Data : Infrastructure Business Environment Indicators .. 91

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