^

MPIC tollways unit sees P3.46-B revenue by 2020

Louella Desiderio (The Philippine Star) - September 10, 2017 - 4:00pm

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) unit Metro Pacific Tollways South Corp. wants to grow its revenue to P3.46 billion by 2020 as it expects growth in traffic both from existing and new tollways projects.

Metro Pacific Tollways South Corp. president Luigi Bautista told reporters the company wants to grow its revenue from the P1.47 billion it expects to generate this year.

“We hope to be able to double that in four years,” he said.

By next year, the firm expects its revenue to increase to about P1.56 billion and to grow further to P2.11 billion in 2019 before hitting P3.46 billion by 2020.

Bautista said the main growth driver would be the company’s “new and existing projects plus new road segments that will be opened.”

Metro Pacific Tollways South through Cavitex Infrastructure Corp. operates the Manila-Cavite Toll Expressway (CAVITEX).

Bautista said average traffic at the CAVITEX per day is at about 140,000 vehicles.

“When we took over in January 2013, the traffic number was about 90,000 (vehicles). Now, 140,000 average and it continues to grow,” he said.

Apart from traffic from CAVITEX, the firm expects more revenues from new tollway projects Cavite-Laguna Expressway (CALAX) and the C-5 South Link which are expected to be completed by 2020.

The P35.43 billion CALAX is a four-lane 45-kilometer (km) expressway linking CAVITEX and South Luzon Expressway (SLEX).

Apart from CALAX, the firm is also building the C-5 South Link.

Phase 1 of the C-5 South Link will cover a flyover to connect C-5 Road in Taguig to Merville in Parañaque, while Phase 2 will be from Merville to Sucat, and Phase 3 will cover Sucat to R-1.

Bautista said the firm also plans to build the Segment 4 extension or the 1.2-km link between CAVITEX and CALAX.

Earlier, he said the firm is hopeful it could get original proponent status for the proposed P23.7 billion Cavite-Tagaytay-Batangas Expressway which will cover Silang in Cavite to Tagaytay City, and terminate at Nasugbu in Batangas.

Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with