Dennis Uy group reclamation project earns PCC approval

Dennis Uy says he follows the rules in all his business transactions. (Nikkei photo)

THE Dennis Uy-led consortium moved one step closer to undertaking its P62-billion reclamation project in Pasay City.

A source who requested for anonymity told Daily Tribune on Monday that the Philippine Competition Commission (PCC) has approved the joint venture between Pasay Harbor City Corporation and the Pasay City government for the rise of a 265-hectare land reclamation project.

The source said that the approval was made by the commission on the same day.

The subject area is located beside the SM Group’s 300-hectare reclamation project.

Before it can fully proceed, the consortium must obtain the approval of the National Economic and Development Authority upon the endorsement of the Philippine Reclamation Authority.

Based on the terms of agreement, the Pasay Harbor City consortium will shoulder the entire cost of the project, which will be completed within four years upon the issuance of the notice to proceed.