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Business

MNTC poised to take over SCTEX

Dino Balabo - The Philippine Star

MALOLOS CITY, Philippines - – Manila North Tollways Corp. (MNTC) is ready to take over operation of the 93-kilometer Subic Clark Tarlac Expressway (SCTEX).

A unit of infrastructure conglomerate Metro Pacific Investment Corp. (MPIC), MNTC is also among the top-bidders that recently pre-qualified for the proposed 40-kilometer Cavite-Laguna Expressway (CALA).

Ramoncito Fernandez, president and chief operating officer (CEO) of Metro Pacific Tollways Corp. said President Aquino is happy with their proposal on the takeover of the SCTEX.

“We are ready anytime. We are just waiting for the formal announcement of Malacanang,” Fernandez said in an exclusive interview on the sidelines of the NLEX-SCTEX first short film contest on Monday.

Part of the MNTC proposal is the 50-50 sharing of revenues and expenses in the operation of the SCTEX, between the MNTC and the government.

Fernandez said that even the rehabilitation of the damaged embankment on the Pasig-Portero River will be shouldered by MNTC and the company.

He added that part of their plan for the full operation of the SCTEX is an integrated toll collection system

Earlier, MNTC offered a P20-billion concession to the government for the operation of SCTEX which remains under the management of Bases Conversion Development Authority (BCDA).

Fernandez said MNTC is also among the four bidders that prequalified for the operation of the 40-kilometer CALA.

He said that CALA will stretch from the Kawit section of the Cavite Expressway (Cavitex) passing through Silang town to Sta. Rosa in Laguna and will eventually interconnect with the South Luzon Expressway (SLEX).

The new toll road is seen to shorten travel time to Tagaytay, but Fernandez said its main targets are motorists aiming to cross from SLEX to Cavitex and vice versa.

BASES CONVERSION DEVELOPMENT AUTHORITY

CAVITE EXPRESSWAY

CAVITE-LAGUNA EXPRESSWAY

CAVITEX

FERNANDEZ

MANILA NORTH TOLLWAYS CORP

METRO PACIFIC INVESTMENT CORP

METRO PACIFIC TOLLWAYS CORP

MNTC

PASIG-PORTERO RIVER

PRESIDENT AQUINO

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