MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is looking to turn over the management and operations of the Subic-Clark-Tarlac Expressway (SCTEx) to Manila North Tollways Corp. (MNTC) this week.
“The turnover (will) hopefully (be) within the month, within July,” BCDA president and chief executive officer Arnel Paciano Casanova told reporters in a chance interview.
Casanova said the Supplemental Toll Operation Agreement was still with the Office of the President.
In January, the MNTC was awarded the contract to manage, operate and maintain the 94-kilometer SCTEx traversing the provinces of Bataan, Pampanga and Tarlac, as no other firms submitted offers during the price challenge.
MNTC, the tollways arm of infrastructure giant Metro Pacific Investments Corp., is the concessionaire of the North Luzon Expressway.
The price challenge for the SCTEX was conducted following orders from the Office of the President.
Under the price challenge, interested proponents had to submit proposals higher than MNTC, which signed a business and operating agreement (BOA) with BCDA in 2011.
The BOA gave MNTC the right to operate and manage SCTEX for 33 years,
while BCDA would be relieved of payment of the P34-billion debt to the Japan International Cooperation Agency for the construction of the tollway.
For the price challenge, MNTC offered an upfront cash payment of P3.5 billion, inclusive of 12 percent value-added tax to the BCDA in addition to the 50-50 sharing of gross revenues.
“In so far as BCDA is concerned, the price challenge process is completed. We remain committed to MNTC and we are ready to implement projects together,” Casanova said.