Reception Hall, Malacañang
12 November 2012

President Benigno S. Aquino III witnessed the signing of the Purchase Agreement of the Food Terminal Inc. (FTI) between the Ayala Land Inc. (ALI) and the national government held at the Reception Hall, Malacañan Palace.

In behalf of the government, the signatories were Finance Secretary Cesar Purisima, Public Works and Highways Secretary Rogelio Singson and Privatization and Management Office (PMO) Chief Officer Karen Singson. Meanwhile, ALI President and CEO Tony Aquino, Ayala Corporation President and CEO Fernando Zobel de Ayala and FTI President and CEO Rene Fuentes represented the private corporation.

During the check turnover ceremony, ALI made their initial payment worth P19 billion which was received by Secretary Purisima. The remaining P5.3 billion will be remitted to the government in 2013.  According to PMO Chief Officer Singson, the proceeds will support a number of DA and DAR programs and projects.

On the other hand, Mr. Aquino of ALI said that the agreement is one of the most significant Public Private Partnership (PPP) projects in the country because it will also host the largest integrated transport system that will link various types of transportation in the area near South Luzon Expressway, Skyway and C-5 road. He added that it will also provide national economic activity and employment possibilities.

FTI is being developed into an integrated and sustainable business district which will highlight excellent living and working spaces. It is also projected to be a pivotal convergence and southern gateway to Metro Manila.

ALI won the highest government bid amounting to P24.3 billion, besting Robinsons Land Corporation’s bid of P14.7 billion and the P11 billion amount of East Empire Land Holdings Inc.

Other officials present in the ceremony were Transportation and Communications Secretary Joseph Emilio Abaya, Presidential Management Staff Secretary Julia Abad and Taguig Mayor Laarni Cayetano.

***