MPIC open to settlement on NLEX, Cavitex toll claims

MANILA, Philippines -  Metro Pacific Investments Corp. (MPIC) is open to a settlement with the government for its compensation claims in relation to overdue toll adjustments for the North Luzon Expressway (NLEX) and Manila-Cavite Toll Expressway (Cavitex).

Romulo Quimbo Jr., senior vice president for legal, regulatory and government regulations at NLEX Corp. told reporters the group is willing to have a settlement with the government for overdue toll rate adjustments.

“Parties are always encouraged to settle, avoid the prolonged litigation,” he said. 

He said the group is open to various options it could offer to the government. The options include staggered payments or extending the concession period. 

“Those are all open. We haven’t sort of singled out one package. We have to sit down. We think the arbitration court or tribunal will be the one to drive it,” he said. 

A preliminary conference is scheduled to be held in Singapore on June 27 for the arbitration.

During the preliminary conference, the parties will agree on a timetable or schedule to follow for the arbitration process.

In April last year, MPIC through NLEX Corp. filed a notice of arbitration against the government to obtain compensation worth about P3 billion for toll rate adjustments due to take effect for NLEX on January 2013 and January 2015.

In the same month, MPIC through Cavitex Infrastructure Corp. also issued a notice of arbitration and statement of claim to the government to seek compensation worth P877 million for the latter’s inaction on the toll hike petition for Cavitex due to take effect on Jan.1, 2012, Jan.1, 2014 and Jan.1, 2015.

MPIC’s compensation claims are increasing everyday as a resolution has yet to be reached. 

Apart from the NLEX and Cavitex, MPIC also operates the Subic-Clark-Tarlac Expressway.

It was also awarded other tollway projects such as the  Cavite-Laguna Expressway, Cebu-Cordova Link Expressway and NLEX-South Luzon Expressway Connector Road.