The proposed change in the cost and terms of the University of the Philippines – Philippine General Hospital (UP-PGH) Cancer Center public private partnership (PPP) project is set to be presented for National Economic and Development Authority (NEDA) board approval next week.
During a luncheon meeting with the European Chamber of Commerce of the Philippines, PPP Center executive director Ma. Cynthia Hernandez informed reporters that the project cost has increased to P9.49 billion from P6.05 billion due to changes in project terms. This increase necessitates another round of approval from the NEDA board, chaired by President Marcos.
Hernandez explained that the revised parameters and terms of the project took into account concerns from firms interested in the project, as well as the need to upgrade the facility to world-class standards. The Cancer Center PPP will be structured as a 30-year build-transfer-operate project, involving the financing, designing, engineering, construction, and operation of a 300-bed facility for inpatient and outpatient cancer treatment.
Prospective bidders for the project include Ayala Healthcare Holdings Inc., Plenary Asia Pte. Ltd., Scheirman Construction Consolidated Inc., and Siemens Healthcare Inc. The government aims to award the project within the year, with construction set to take place at the Metro Manila campus of UP-PGH.
