MPTC to raise P36 B for projects

MANILA, Philippines — The tollway arm of Metro Pacific Investments Corp. (MPIC) is planning to raise more than P36 billion within the first quarter by borrowing from local banks to fund its projects such as the C-5 South Link and the Cavite-Laguna Expressway (CALAx).

Metro Pacific Tollways Corp. (MPTC) chief financial officer Christopher Lizo told reporters the firm would be raising funds for the C-5 South Link and the CALAx , with 70 percent coming from loans from local banks and the rest through equity.

In particular, he said the firm intends to raise P11 billion for the C-5 South Link and P25 billion for the CALAx.

He said MPTC prefers to borrow from local banks as the firm’s revenues are in pesos.

The C-5 South Link covers two phases with the first one covering 2.2-kilometers (km) including a flyover above the South Luzon Expressway (SLEX) and Skyway from C-5 Road in Taguig to Merville in Sucat, Parañaque. This project is now in the construction stage.

The second phase would start from Merville to Manila-Cavite Toll Expressway (CAVITEX).

MPTC targets to complete the project in June 2019.

Upon completion, the project is expected to speed up the commute of motorists and travelers from Paranaque, Las Piñas and Cavite through directly crossing over the SLEX and Skyway into C-5 Taguig City.

Metro Pacific Tollways South president Luigi Bautista said 40,000 to 45,000 vehicles are seen to benefit from the C-5 South Link.

The project would also potentially decongest EDSA when it starts commercial operations.

The CALAx, meanwhile, will cover a four-lane, 45-km expressway to link CAVITEX and SLEX.

It will start from CAVITEX in Kawit, Cavite and end at the SLEX-Mamplasan interchange in Biñan, Laguna.

Under the project, there will be eight interchanges in locations such as Kawit, Open Canal, Governor’s Drive, Aguinaldo Highway, Silang East, Sta.Rosa-Tagaytay Road, Laguna Blvd. and Technopark.

The CALAx was awarded under the public-private partnership program during the previous administration.

The concession period will be for 35 years including five years for design and construction.

Target completion for the CALAx is before the end of 2020.

When completed, the expressway would cut travel time from CAVITEX to SLEX by 45 minutes.

MPIC currently operates tollways such as the North Luzon Expressway (NLEX), Subic-Clark-Tarlac Expressway and CAVITEX.

It is also working on other tollway projects such as the NLEX-SLEX Connector Road, NLEX-Harbor Link Segment 10, and Cebu-Cordova Link Expressway.

In addition to tollways, infrastructure conglomerate MPIC is involved in water, power, hospitals, railways and logistics.