The Aboitiz Construction Inc. and First Balfour are joining forces to get a share of the infrastructure projects in the Visayas. Balfour is one of the three contractors who are working on the P22.6 billion Cebu-Cordova Link Expressway or Cebu’s third bridge connecting Cebu and Mactan of which an artist’s rendition of the bridge when completed is shown above.
CONTRIBUTED PHOTO
Aboitiz-Lopez firms’ tie-up
Public and private infrastructure projects in the Visayas area are being eyed by the newly formed partnership of Aboitiz Construction Inc. and First Balfour.
According to Aboitiz Construction President and Chief Operating Officer Alberto Ignacio Jr., among the infrastructure projects that are being planned by two of the country’s largest conglomerates are ports, jetties, and even roads and bridges for the Visayas area.
“The partnership is mainly to pursue opportunities in the Visayas where both company’s expertise and track records can be used as a combined capability to undertake complex projects,” he told Cebu Daily News in a text message.
“The strength of First Balfour on civil infrastructure works will compliment that of Aboitiz Construction’s strength on structural, mechanical, and modular fabrication works,” he added.
Ignacio said they already have specific projects in the pipeline for the Visayas area. However, he said they could not divulge these yet as they have non-disclosure agreements and they could not reveal information without approval from their clients.
The partnership was recently announced by the two companies which signed a memorandum of understanding (MOU) to explore potential project collaborations in the Visayas.
The two construction firms agreed to work together exclusively and combine their expertise and resources to pursue projects and eventually secure contracts for these projects within the Visayas region.
The Visayas-based Aboitiz Construction started in 1975 while the Luzon-based First Balfour started in 1969.
Although based in Luzon, First Balfour, which is a unit of the Lopez-led First Philippine Holdings, has started entering the Cebu market.
They are one of the three contractors undertaking the P22.6 billion Cebu-Cordova Link Expressway (CCLEX) project, the third bridge connecting Mactan Island and mainland Cebu. Other contractors doing the project are DM Consunji Inc. and Spanish firm Acciona Construccion SA which formed the Cebu Link Joint Venture (CLJV).
Excited
The intent of the two construction giants to pursue private and public infrastructure projects in the Visayas was welcomed by Regional Development Council (RDC) Central Visayas Chairman Kenneth Cobonpue.
“I’m very excited about that partnership because there is a need for projects now. At the RDC, we are very excited about these projects because a big share of the government’s budget is going to Mindanao and a lot of other less developed areas,” Cobonpue told CDN in a phone interview.
He explained that Central Visayas’ best chances at having more public infrastructure projects are through public-private partnerships, especially so for Cebu which is one of the countries economically vibrant provinces.
Cobonpue said that the purely government-funded projects are going to other less-developed areas in the Visayas and Mindanao regions.
He added that he hopes the partnership of Aboitiz Construction and First Balfour would produce infrastructure projects within Central Visayas.
Focus
Combined, Aboitiz Construction and First Balfour bring together almost a century of experience in the construction industry.
Present during the MOU signing were First Balfour President and Chief Operating Officer Anthony Fernandez, Aboitiz Construction Chair Jaime Jose Aboitiz, and Aboitiz Construction President and Chief Operating Officer Alberto Ignacio Jr.
Ignacio said both firms want to deliver quality projects in the Visayas area.
“Both companies have the same focus on delivering projects on time, on budget, with quality and finishing the projects safely,” he told CDN.