The Market Monitor Minding the Nation's Business
San Miguel Corp. (SMC) will submit an unsolicited proposal to build P3-billion bridge connecting Boracay Island to Caticlan.
San Miguel President and COO Ramon S. Ang said the bridge will help decongest and clean up Boracay as well as increase the supply of fresh water and electricity to the island.
The gap between the two islands is 1.1 kilometers, but Ang said the entire project will span about 1.9 kilometers.
“The bridge will be made of concrete and be high enough so that ships can pass below it,” he said.
Ang said SMC can build the bridge in two years, with 12 years to 15 years for the company to recover the investment.
It intends to generate revenues from the toll fees that will be charged both vehicles and pedestrians, as well as access fees it will charge utilities, such as sewage pipes, water pipes, power lines and telecommunications lines.
“The bridge will help alleviate the congestion in Boracay and reduce pressure on its limited resources,” Ang said.
He explained there will be supply of fresh water from Caticlan and will mean that resorts and residents no longer need to use deep wells to tap groundwater.
He said it will be easier to keep Boracay clean by pumping out sewage to Caticlan while trucks can haul solid waste that amount to 170 tons per day.
Ang said pressure on the island’s resources will also be eased since most of Boracay’s 25,000 workers and their families can relocate to Caticlan where cost of living is lower and just cross the bridge to their jobs in the resorts.