ILOILO City – Two major public markets – the Iloilo City Central and Terminal Public Markets –here are up for Public-Private Partnership (PPP).
The City Government here and the PPP Center of the Philippines will soon launch the Iloilo City Central and Terminal Public Markets Project. This project aims to redevelop the main markets and provide the city with a sustainable multi-use market complex that will boost business activities, as well as preserve the economic value of the Old Central Business District.
According to Iloilo City Mayor Jerry P. Treñas, they are currently conducting A Call for Participants: Market Sounding Activity facilitated through an online form or one-on-one meeting with PPP Center. The activity aims to solicit insights and feedback on the project terms from interested private sector investors.
Treñas said the Project’s indicative investment cost ranges from P2.9 – 3.6 billion. The Project involves the design, finance, and construction of mixed-use buildings, operation and maintenance of commercial spaces, and maintenance of the whole facility for a period of 30 years, subject to the finalization of the business case. Potential revenue sources for the private sector proponent may include rental fees from the public market and commercial spaces, cargo-handling charges, vehicular docking charges, warehousing/cold storage rental charges, bulk hauling, and terminal fees, and parking fees.
The objectives are as follows: *Provide a brief background and envisioned scope of the Project to potential private sector participants; *Gauge the interest of the private sector to partner with the city for undertaking the Project as a PPP; *Determine the level of interest, capability, and experience of the private sector including lenders to undertake the Project; *Identify potential issues or problems that may affect the Project, particularly its viability; *Obtain insights from the private sector, including lenders, on how to make the Project more attractive and bankable; and *Understand key considerations of the private sector regarding their potential involvement in the Project in partnership with the city.
So far, there are two investors that are interested to undertake the Project. The city mayor assured that once this project is realized, no market vendors will be displaced. Based on the data of the Local Economic Enterprise Office (LEEO), there are 1, 089 bonafide and transient market vendors at the terminal market and 1,100 at the central market.
Treñas noted that aside from the two markets, the city-run slaughterhouse in Barangay Tacas, Jaro and the reclamation of the three areas in City Proper, Molo towards Arevalo as well as in Jaro are also open for PPP.
NEW ROOFING
While the project with PPP is yet to be materialized, the city government is funding the repair of the markets to promote local businesses and encourage shoppers through creating better facilities. As part of this initiative, Treñas said that through the City Engineer’s Office, the city government has started to modify the Iloilo Central Market and the Iloilo Terminal Market by fixing the roofs to avoid flooding and provide shades for both vendors and consumers. Aside from the roofing, the drainage systems inside the markets were also de-clogged and improved./PN
