Project Preparation and Transaction Advisory Services for the San Ramon Newport Project (SRNP)

Sector: Transportation

Country: Philippines

PRIMEX has been involved in the San Ramon Newport Project (SRNP) from the pre-feasibility stage through the finalization and approval of the feasibility study. In 2017, PRIMEX mobilized a team of multi-disciplinary national experts to support the conduct of the pre-feasibility study and conducted technical, financial and economic viability assessments, and environmental and social safeguarding to complete the feasibility study report, submission of the Environmental Impact Assessment, and obtaining of government approvals including provision of support during NEDA-ICC and DOF deliberation meetings. In 2022, PRIMEX mobilized another team of national consultants to conduct the re-study of the project and provided transaction advisory services (TAS) for the revision and updating of the feasibility study. In both endeavors, PRIMEX was engaged as a subconsultant. In 2024, PRIMEX, through a negotiated procurement with PPPC and ZCSEZA, was awarded the contract as lead firm to deliver project preparation and full transaction advisory services to PPPC across four phases: (i) Phase 1: Updating of the Feasibility Study (FS) and Project Structuring; (ii) Phase 2: Assistance in Securing All Required Government Approvals; (iii) Phase 3: Assistance in the PPP Bidding Process; and (iv) Phase 4: Post–PPP Contract Signing Assistance and Advisory. Under Phase 1, PRIMEX updated the previous FS, which included: (i) updating of the traffic analysis, technical and engineering assessment, environmental and social assessment including the Environmental Impact Statement (EIS); (ii) conduct of value engineering/value analysis (VE/VA) study to select the best port development option; (iii) preparation of port development master plan and preliminary engineering design of port structures and facilities; (iv) financial evaluation, including project cost estimates and value for money (VfM) analysis, and economic analysis; (v) conduct of legal and institutional analysis; (vi) conduct of risk analysis and preparation of risk mitigation measures; and (vii) project structuring and preparation of Parameters, Terms, and Conditions (PTC) forms and other accompanying documents required by PPPC for project processing and approval. The Updated FS Report has been accepted by PPPC and approved by the ZCSEZA Board of Directors. PRIMEX has also assisted ZCSEZA in securing the necessary government certifications under Phase 2. Phases 1 and 2 have been deemed complete.
PRIMEX is currently implementing Phase 3 by: (i) supporting ZCSEZA and PPPC in conducting investors’ conferences to attract private sector participation for the development and operation of the proposed port; and (ii) providing assistance in the PPP bidding process including preparation of bid implementation plan, bid documents, and bid execution. Under Phase 4, PRIMEX will oversee the bidding process, finalize the PPP contract, and support the turnover of the project to the private Port Concessionaire.