Wednesday, August 11, 2010

Navy-private venture falls of BCDA loop


The Manila Times, Thursday, 29 July 2010

The Philippine Navy spokesman said that the partnership
between Navy and the private companies would not undergo
the procedure set by the state-owned Bases Conversion
and Development Authority (BCDA). “The 30-hectare lot
No. 1, where the Naval station in Fort Bonifacio is
located, is not part of the BCDA. It is a Navy property,
” said Lt. Col. Edward Arevalo, Navy spokesman, adding,
“It will not go through the long bidding process of BCDA.”

“We have a property in [Fort] Bonifacio that has not been
optimized . . . so we said why not we enter into a public-
private partnership to fully utilized the property,”
he said in Filipino.

The Navy is still waiting for President Benigno Aquino 3rd
to sign the executive order to start the public-private

The Naval officer also said that there are many private
companies who are interested to partner with the agency
in this development but they not chosen yet.

In this type of partnership, the private proponent would
rent the Navy property in Roxas, Boulevard—where its
headquarters is currently located and the Naval Station
in Fort Bonifacio for $100 million.

All proceeds of this development will go to the Navy’s
trust funds, while the Board of Trustees is the one who
manage its income.

The Board of Trustees is composed of the secretary of
National Defense, the chief of staff of Armed Forces of
the Philippines and flag officer in command
of the Philippine Navy.

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