Abacus Consolidated Resources and Holdings Inc. has teamed up with Sinohydro Corporation Limited of China to submit an unsolicited proposal for a joint venture with the government to build the Laiban dam at a cost of P60 billion.

In a disclosure to the Philippine Stock Exchange Wednesday, the firm said its proposal for the Metropolitan Waterworks and Sewerage System involves the construction of the dam to provide 1,900 million liters of water per day for Metro Manila consumers.

The dam will also supply the irrigation requirements of the agricultural sector of neighboring areas.

The firm will also provide affordable housing for affected families living within the areas where the dam will be built.

A 30-megawatt hydropower plant will also be constructed to alleviate the critical energy requirements for the Luzon Grid which has a projected deficit of 3,000 megawatts by the year 2013.

Abacus said the project is expected to be completed within 60 months from the start of construction.

Sinohydro is mainly engaged in water conservation and hydropower industries, excavation, earthmoving, underground structures, dredging and reclamation projects, building, civil infrastructure, mechanical and electrical plant manufacturing and installation.

The firm has been the backbone of China’s efforts to harness and develop rivers, accounting for 70 percent of China’s water conservation, canal and irrigation, water treatment and water supply projects.

Giant conglomerate San Miguel Corporation is also renewing its bid to build the Laiban dam after Metro Manila’s water supply from the Angat dam dropped below critical levels and resulted in water rationing.

Last March, the MWSS terminated its joint-venture talks with San Miguel Bulk Water Co. Inc. for the proposed development of the Laiban Dam following opposition from Metro Manila’s two water concessionaires who wanted to build the Laiban dam themselves or build smaller dams elsewhere.

SMBWCI’s proposal to develop the Laiban Dam in Tanay, Rizal, would have provided 1.9 billion liters a day of raw water, enough to supply Metro Manila for the next 30 to 40 years. It was also expected to address a possible water shortfall of 1.6 billion liters a day by 2015.