The Bases Conversion and Development Authority (BCDA) has extended the proposal deadline for its P2.5-billion New Clark City ICT project, aiming to woo more private investors into a public-private joint venture.
Originally set for February 16, the submission cutoff is now slated for May, giving bidders extra time to respond after recent market sounding activities. BCDA President and CEO Joshua Bingcang said the extension accompanies key refinements to the joint venture’s financial framework.
“The refinement is on the ability of the consortium and the joint venture to raise capital when needed,” Bingcang told reporters. “Instead of relying immediately on bank borrowing, which may require higher interest rates, the shareholders themselves can provide additional equity or shareholder loans.”
Under the updated plan, BCDA will hold a minority 30–40 percent stake, while private investors—both local and foreign—will retain the majority. Future capital injections could come from either partner via shareholder loans, minimizing reliance on costly external financing.
Bingcang expressed confidence that the adjustments would broaden investor interest. “I think we have complied with the requests of investors,” he said.
The project, structured as a public-private partnership, will establish a carrier-neutral, open-access fiber network across the 9,450-hectare New Clark City. BCDA expects the infrastructure to underpin smart city applications and digital services, positioning the emerging urban hub as a model for technologically advanced Philippine cities.
Investors now have additional time to align with the more flexible financing scheme, potentially paving the way for faster deployment of fiber backbone infrastructure critical to New Clark City’s vision as a next-generation smart metropolis.
