Metro Pacific Tollways allots P45 billion for capex in 2019

MANILA, Philippines — Metro Pacific Tollways Corp., the tollways arm of infrastructure conglomerate Metro Pacific Investment Corp., is ramping up its capital spending this year by five times from last year to accelerate construction of five big-ticket projects.

MPTC chief financial officer Christopher Lizo said the group is allocating a capital expenditures budget of P45 billion for this year, five times more than the previous year’s P9 billion.

“We’re getting most of the right of way this year so we are accelerating construction. Last year it (capex) was small because the projects were delayed,” he said.

Lizo said this year’s capex would be used for the construction of five major projects which are the C5-South Link, Connector Road, Cebu-Cordova Link Expressway in Cebu, Cavite-Laguna Expressway, and NLEX Harbor Link extension project to Radial Road 10, Navotas City.

“With the significant development in the right of way acquisition, we are confident that the construction of the five projects can accelerate and completion can be finished earlier than expected,” he said.

MPTC president and CEO Rodrigo Franco said the group is on an “expansive mood” as it seeks to broaden its tollway territory to include Cebu and neighboring ASEAN countries like Indonesia, Thailand, and Vietnam.

Aside from projects that will commence this year, MPTC is also set to finish a number of big-ticket projects in the next 12 months following completion of more than 20 projects in 2018.

Among the projects eyed for completion by the company this year are the additional toll lanes in San Fernando, Mexico, and Angeles; the expanded connecting ramps of NLEX-SCTEX; the new NLEX Drive & Dine service facility; and the NLEX Harbor Link Segment 10, an elevated expressway that is designed to provide direct access between the Manila Port and the northern provinces of Luzon via NLEX.

The NLEX Harbor Link Segment 10 is slated to open next month after its scheduled opening in December did not push through.

Last year, the MPTC was able to complete more than 20 projects in both NLEX and SCTEX which were aimed at decongesting traffic and enhancing services to motorists.