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Business

Gerona exits of TPLEX seen to open next year

- Ma. Elisa Osorio  -

MANILA, Philippines -  The Gerona exit of the Tarlac Pangasinan La Union Expressway (TPLEX) is expected to open middle of next year, a ranking government official said.

Trade and Industry Undersecretary Cristino L. Panlilio said the construction of the TPLEX until the Gerona part is already ongoing.

Panlilio reported that the part until Gerona will be completed middle of next year. However, after this part he said there are already problems because of right of way (ROW) issues. Panlilio noted that a possible solution to the ROW issue is to duplicate the diversion road to Baguio.

In an earlier interview Private Infrastructure Development Corp. (PIDC) president Sammy Lazo said that the cost of the TPLEX may go up because of the changes in scope. Lazo said that there have been variations from the government but refused to elaborate on the matter.

On the issue of right of way, Lazo said that there were no cadastral maps. Likewise, he said that the lots have been subdivided and the owners are John Does. Lazo said there were also problems in documentation and the inconsistent plotting of land.

However, DMCI president and chief executive Jorge A. Consunji said that they have already cleared the right of way issues for phase one which involves the construction of road from Carmen to Rosario. This phase will take 2.5 years to construct.

Consunji said that they have already cleared 60 percent of the 50 kilometer Carmen to Rosario phase. For the 30 kilometer stretch that is deemed ready for construction, Consunji said that they will need P4 billion.

The initial P4 billion will come from the P1.5 billion seed fund contributed by DMCI and San Miguel Corporation (SMC), its partners in the consortium PIDC. SMC, through Rapid Thoroughfares Inc., owns 35 percent of PIDC, making it the biggest shareholder in the company. DMCI, on the other hand, has a 32 percent stake. The two own majority or 67 percent of PIDC.

On the other hand, the consortium will be borrowing P3 billion from the government. Consunji said that they have yet to determine the terms of the loan. The government will get the money from the infrastructure bond that will be released as soon as Malacañang approves it.

vuukle comment

CONSUNJI

GERONA

JOHN DOES

JORGE A

LAZO

PANLILIO

PRIVATE INFRASTRUCTURE DEVELOPMENT CORP

RAPID THOROUGHFARES INC

SAMMY LAZO

SAN MIGUEL CORPORATION

TARLAC PANGASINAN LA UNION EXPRESSWAY

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