KUALA LUMPUR — Southeast Asian developer AlloyMTD Group said it is planning to tap at least three local contractors to work on the first phase of the planned National Government Administrative Center (NGAC) in Clark, Pampanga.
“Safe to say that they will be Tier 1 (contractors). We have been talking to a few of them,” Tee Kim Siew, acting chief executive officer of the AlloyMTD Group told visiting Manila-based journalists here on Wednesday.
AlloyMTD is close to awarding three to four local contractors. The company expects the contractors to handle the infrastructure part of the Phase 1-A of the NGAC, which is being developed jointly with the Bases Conversion and Development Authority.
Phase 1-A of the NGAC will consist of a stadium, an aquatic complex; two apartment blocks for athletes; and two apartment blocks for government employees.
The company targets to complete Phase 1-A by the end of 2019. The stadium is expected to be finished by Oct. 15. 2019, in time for the Philippines’ hosting of the Southeast Asian Games.
“Every package will probably have a contractor to handle. Because all of seven packages can work concurrently to make sure we meet the deadline,” Mr. Siew said.
For the stadium, AlloyMTD expects payment from the government in five years. The local government is given the option to accelerate its payment.
As for the residential development, the firm said it is negotiating a “flexible” payment scheme for the government.
The NGAC in the Clak Special Economic Zone is AlloyMTD Group’s second biggest investment at about $250 million. Only its mixed-development property One Crown Place in London costs more at $500 million.
“I would say London and Manila are the biggest overseas markets for our group,” Mr. Siew said.
AlloyMTD is a member of the giant Malaysian investment holdings MTD Capital Berhad which has businesses in infrastructure, energy and manufacturing among others. — Janina C. Lim
