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Megaworld a latecomer to the powerhouse team

When four major companies announced they were forming Team Trident to bid for the government’s largest infrastructure project so far—the Laguna Lakeshore Expressway Dike project, many wondered if Megaworld Corp. of tycoon Andrew Tan was only belatedly included in the team.

Initial reports named SM Prime Holdings Inc., Aboitiz Equity Ventures and Ayala Land Inc. as potential partners for the project and they called the consortium as Team Trident, which means three-pronged spear.

Megaworld officials, however, were quick to clarify the matter, saying the property developer had long been invited to be part of the consortium that would bid for the big-ticket project.  A company source said Megaworld was invited by Ayala Land and Aboitiz Equity to be part of the consortium at the same time they talked to SM Prime.

The source said the consortium members agreed to only reveal the composition of the group on the last day of submission of the bid for the Laguna Lakeshore project.  The same source said Megaworld agreed to be part of the consortium, even though it is very much capable of bidding for the project on its own.

So how will this consortium fare against the three other groups, namely San Miguel Holdings Corp., Alloy-PAVI-Hanshin LLEDP Consortium of Malaysia and Rainbow Holdings Corp. of Korea that have submitted documents to prequalify for the bidding of the P123-billion PPP project? Let’s wait until July 6, when the Public Works Department is set to open the financial bids of the four groups.

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