MANILA, Philippines - The toll road arm of infrastructure giant Metro Pacific Investments Corp. (MPIC) is looking at completing the P18 billion toll road connecting the North Luzon expressway (NLEX) and the South Luzon expressway (SLEX) in 2017.
MPTC president Ramoncito Fernandez told the audience of the 10th year anniversary celebration of Manila North Tollways Corp. (MNTC) Tuesday evening that the company is awaiting the final approval of the project by the National Economic and Development Authority (NEDA) Board chaired by President Aquino.
Fernandez explained that the NEDA – Investment Coordination Committee (NEDA-ICC) has approved the reverting of the major road project back to the original proponent status instead of a joint venture with state-run Philippine National Construction Corp. (PNCC).
“So we hope once we start, we can have a connector road that would change the skyline in the metropolis by 2017,” he said.
According to him, construction of the NLEX-SLEX connector road should have started three years ago.
MNTC president Rodrigo Franco said the company could borrow as much as P15 billion to finance the construction of the connector road.
“That is the estimated project cost. It will depend if the connector road would be approved,” he added.
Malacañang has directed the Department of Public Works and Highways (DPWH) to subject the P18 billion project of the MPIC unit to a Swiss challenge after the Department of Justice (DOJ) issued a legal opinion stating that the project should be reverted back to the unsolicited proposal.
The NLEX SLEX connector project was originally submitted to the DPWH in May 2010 under the Build-Operate-Transfer (BOT) Law.
As early as August 2012, the government was supposed to undertake the “Swiss Challenge” process. However, the Department of Transportation and Communications (DOTC) recommended that MPIC’s Metro Pacific Tollways Development Corp. (MPTDC) enter into a joint venture agreement with PNCC to expedite the connector road project.
The NEDA Board approved the amendment or extension of existing joint venture between MPTDC and PNCC as well as the supplemental toll operations agreement (STOA) to cover the extension of the franchise of NLEX under Presidential Decree 1894.
However, the DOJ said the joint venture between MPTDC and PNCC was illegal.