Friday, December 21, 2007 World's No. 1 contractor to finance railway, bridge projects
THE MCC Capital Projects Limited, a business concern engaged in financing and construction and identified to be the number one railway contractor in the world based in the United Kingdom, Wednesday expressed interest to help in the development of Mindanao and affirmed its preparedness to obtain adequate and timely financing for developmental projects in the island.
Faisal Kasim, chief executive officer of the MCC Capital, and John Tapp, managing director and secretary of the same company, have inked partnership with a local government unit (LGU)-led initiative, the Davao Integrated Development Program (DIDP), and with the Mindanao Business Council (MinBc) on Thursday at the regional office of the Department of Trade and Industry (DTI).
Part of the Memorandum of Agreement (MOA) signing was the implementation of the Mindanao Railway System and the Samal Bridge Project, which are identified in the DIDP Master Plan since 1994.
The railway system will be initially established traversing the major highway of Tagum City - Carmen - Panabo City - Davao City - Sta.Cruz, and Digos City. Based on the DIDP Master Plan estimation as of 1997, the railway costs P240 billion.
The Samal Bridge Project, on the other hand, will serve as link to the other growth centers in Compostela Valley province and Davao Oriental through the proposed roll-on/roll-off port facilities. Again, as of 1997, DIDP estimated a total of P6.48 billion for the project.
"We are very optimistic in investing in this part of Mindanao, people here speak English and are highly literate," Kasim said in a press conference.
Under the Memorandum of Agreement, the DIDP, represented by Board Chair Governor Rodolfo del Rosario, the MinBC, represented by MinBC and Regional Development Council (RDC) Chair Vicente Lao, Kasim and Tapp, of the MCC Capital, have confirmed understanding that they shall collectively endeavor to arrive at a mutually accepted agreement to undertake infrastructure projects that would benefit Mindanao and help in the growth of the Bimp-Eaga region.
Governor del Rosario said the MCC Capital will conduct studies, provide expert assistance, and submit proposals for the development and realization of the Mindanao Rail and Samal Bridge Projects.
The DIDP, MinBC, and the MCC Capital will then consult and coordinate with each other during the first quarter of 2008 and action plan for the undertaking of priority infrastructure projects.
Meanwhile, Vicente Lao, said that MinBC, as a duly constituted Philippine entity, will never stop from looking innovative ideas on how to come up with the realization of projects planned for Mindanao.
"We were very glad that we were able to adopt a policy now and that is to look for ways and means on how to make developments in Mindanao without depending from Manila, we hope that the initiation of this activity will open up doors for other funding institutions to invest in Mindanao," Lao said.
Lao said that with the entry of the MCC Capital as partner of the DIDP and MinBC, a lot of possibilities are open now for the Davao Region and Mindanao. (JGRS)
