close
close
Skip to content

AG&P Industrial and Visayas NECEBOLEY Interlink Holdings Corporation Exclusively Sign MoU for National Economic & Development Authority’s (NEDA) US$15 Billion Mega Infrastructure Project

  • Project NECEBOLEY to connect the 4 major islands of Negros Oriental, Cebu, Bohol and Southern Leyte in Visayas through bridges and all-weather highways.
  • AG&P Industrial will serve as technical partner and EPC contractor, contributing its expertise and resources in infrastructure development and project management.
  • Visayas NECEBOLEY Interlink Holdings Corporation (VNIHC) has been granted Original Proponent status by the provincial governments of the four major islands to develop Project NECEBOLEY under the Public-Private Partnership (PPP).

Manila, Philippines, April 24, 2024 /PRNewswire/ — AG&P Industrial (Atlantic, Gulf and Pacific Company Manila, Incorporated), a leading full lifecycle engineering, procurement, manufacturing, construction, installation and commissioning (EPFCIC) company for infrastructure development and Operations and Maintenance (O&M) and subsidiary of AG&P Group today signed an exclusive Memorandum of Understanding (MoU) with Visayas NECEBOLEY Interlink Holdings Corporation (VNIHC), a leading real estate, real estate development and reclamation company, for NEDA’s $15 billion mega infrastructure project NECEBOLEY, is expected to start in the second quarter of 2024.

Project NECEBOLEY aims to connect four major islands in the Visayas region, namely Negros, Cebu, Bohol and Leyte. VNIHC was granted certificates of acceptance, granting it the status of original proponent by the provincial governments of Negros Oriental, Cebu, Bohol and Southern Leyte to develop Project NECEBOLEY through a joint joint venture initiative with the provincial government under public-private cooperation (PPP).

Project NECEBOLEY will be supported by a private consortium of global partners who will finance, design, build, operate and maintain the bridge, road and public transport network, consisting of 4-lane bridges with extensive highways. The consortium will also carry out the construction of pipes, conduits and landing stations to enable the installation of the high-voltage cables of the national electricity grid, the high-capacity industrial water pipelines and the multi-core fiber optic telecommunications. Other sources of project income will come from land reclamation development, water supply, electricity transmission costs, communications, public transport and real estate development.

As project proponent, VNIHC will ensure the requirements, plans and reports in accordance with the rules, regulations and policies of the LGUs and engage AG&P Industrial in pre-proposal conferences, post-award meetings with LGUS and other government agencies to ensure the coordination of the project proposals to guarantee. obligations upon award of the Project. AG&P Industrial will also have access to contract specifications for accuracy review and technical assistance during pre-solicit, pre-bid and post-award conferences.

Mr. Angel Pio E. Veloso Jr., Chairman, VNIHC said, “Project NECEBOLEY entails the development, operation and maintenance of a 238.05 km state-of-the-art all-weather bridge and highway network to provide vital connectivity between the major islands of the Visayas region, selected for its rapidly growing industrialization and urbanization, foreign investment, ecotourism and environmental protection We are pleased to have AG&P Industrial as our technical partner and EPC contractor to contribute its expertise, experience and resources in infrastructure development and project management to support the successful implementation of this crucial project. including enabling a global consortium of partners, AG&P Industrial will also have the option to take an equity stake in VNIHC through a separate definitive agreement.

Mr. Alex GamboaChairman, AG&P Industrial said: “AG&P is the cornerstone of the Philippine construction industry. We have built many of the country’s landmark structures, including the Ayala Bridge, the first steel bridge, Manilas water and sewage systems, Araneta Coliseum, national monuments and other historical monuments, including the first LNG import terminal of the Philippines commissioned in 2023. We are privileged to collaborate with VNIHC for Project NECEBOLEY that will the Philippines’ iconic land interconnectivity infrastructure within the region, enabling access to Visayas. Critical to the country’s economy, Project NECEBOLEY will transform Visayas into a thriving business hub and accelerate socio-economic development, improving the lives of millions of Filipinos.

Project NECEBOLEY will be implemented in two phases. Phase 1 will focus on the construction and operation of a 238.05-kilometer bridge and toll road network, connecting the four major islands of the Visayas region. Phase 2 will focus on the reclamation of raw land and horizontal development of 568 hectares of foreshore and offshore areas in the Visayas region and the development of the reclaimed land into a turnkey complex for residential, commercial, industrial and other tourist purposes. Phase 1 is further divided into 6 different packages, of which Package A will include the construction of the bridge running from Sibulan (Negros Oriental) to Santander (Cebu), with a length of 11.30 km. Package A is expected to launch in the second quarter of 2024.

About AG&P Industrial

A subsidiary of the AG&P Group, AG&P Industrial, Manila is a leading diversified full asset lifecycle EPFCIC (Engineering, Procurement, Fabrication, Construction, Installation and Commissioning), infrastructure development and Operations & Maintenance (O&M) company, with a legacy of executing award-winning major LNG projects worldwide terminals and refineries, petrochemical plants, utilities, LNG liquefaction modules and other complex process units. It is also one of the largest Philippine industrial construction companies, operating a world-class manufacturing site in Batangas with access to deep water and 60,000MT of annual module assembly capacity. We build large project segments and complex process modules in a controlled environment with the highest standards of safety and quality. For more information, please visit www.agp-industrial.com

About AG&P Group

Atlantic Gulf & Pacific (AG&P) is a global downstream LNG infrastructure platform focused on the development of LNG import and regasification facilities and downstream city gas networks. AG&P also provides engineering and project management services for LNG and other infrastructure. AG&P is partly owned by Osaka Gas, JBIC (the Japan Bank of International Cooperation) and Asiya, a publicly traded company. Kuwait fund. For more information, visit https://agpglobal.com/.

About Visayas NECEBOLEY Interlink Holdings Corporation (VNIHC)

Neceboley, a holding company founded in Cebu in 2016, was founded with the mission to lead the development of the Visayas region through its vision to connect islands and drive growth. 100% owned and controlled by Mr.’s group. Engel Veloso Jr., VHIHC brings in-depth experience in real estate, property development and land reclamation projects. For more information, visit https://www.neceboley.com/

About the National Economic and Development Authority (NEDA)

Founded on January 24, 1973, the National Economic and Development Authority (“NEDA”), an independent cabinet-level agency of the Philippine government responsible for major economic planning, with the mandate to create, coordinate and monitor programs designed to promote the country’s economic growth to accelerate and develop. It is headed by the president of the Philippines as Chairman of the NEDA Board, with the Secretary of Socio-Economic Planning as Vice Chairman. For more information, please visit https://neda.gov.ph/

Photo: https://mma.prnewswire.com/media/2394859/AGP_VNIHC_MoU_Signing.jpg