Lorenzana added that if he will let the OPV contract drag on until he steps down on June 30, he is not sure whether his successor Jose Faustino Jr., who was named officer-in-charge, is authorized or has the power to sign such contracts.
By the time his successor is allowed to sign it, Lorenzana said it is likely that the project’s cost will be higher.
"Hyundai is saying na kapag nagtagal pa ng 100 days, before the time of the Notice of Award is given, ay hindi na nila kaya yun presyo. Naghahabol tayo ng presyo (Hyundai is saying that if 100 days will pass before the Notice of Award will be given, they could no not longer afford to construct the OPVs at those price. We are chasing for a lower price here)," Lorenzana said.
For these reasons, the outgoing DND chief said he decided to sign the contract as the project has been ongoing since 2018 and that signing is beneficial for the "greater interest of the government."