THE SAN MIGUEL group and the developer of the Philippine Arena are proposing a P338.8-billion public-private partnership (PPP) project that will reclaim a part of Manila Bay. Its main purpose is to protect the Manila Bay Coastline through building a city flood barrier and coastal sea barrier. It will also provide an attractive urban waterfront development with space that will make new commercial activities possible. Another function of the coastal sea barrier will be as an expressway that will help shorten the traveling time between Bataan and the National Capital Region.
“Along the barrier, the project also offers reclaimed land for urban and economic development. In between the reclaimed land and the present shoreline are mangrove forests that help develop the ecological value of Manila Bay.”
The size of the proposed project is not immediately available, but with the P338.8 billion, it tripled SM Prime Holdings Inc.’s reclamation deals covering a combined 600 hectares along Manila Bay.
Source: Business World Online
