Cavitex raises revenue goal for next year
Richmond Mercurio (The Philippine Star) - December 9, 2019 - 12:00am

MANILA, Philippines — Metro Pacific Tollways Corp. unit Cavitex Infrastructure Corp. (CIC) is raising its revenue goal for 2020 as the company expects to finish the year with a top line growth on the back of robust traffic volume on the Manila-Cavite Toll Expressway (CAVITEX).

CIC president Roberto Bontia said the company is looking to end the year with higher revenues than last year, driven by higher vehicle traffic in CAVITEX.

“We’re going to hit our targets. A little over P2 billion or about P2.2 billion is our revenue target so we’re going to hit that,” Bontia said.

Bontia said traffic volume along CAVITEX is expected to increase by 14 percent this year to 175,000 vehicles daily.

“With the widening of R-1, the extra lane really did a lot of help and of course the C5 Southlink also came in. C5 is actually doing good, averaging more than 10,000 vehicles a day. We thought there would be a dip once we started tolling. With a few days of tolling there was a slight dip but it recovered,” he said.

The Toll Regulatory Board (TRB) last October gave the thumbs up to the initial toll for the first 2.2 kilometers of the Segment 3A-1 portion of the C5 Link Expressway, as well as the add-on toll rate for Phase 1 of the R-1 Enhancement Project on Segment 1.

Bontia said the CIC network also benefited from the recent traffic issues along the South Luzon Expressway (SLEX) due to the construction of the Skyway Extension project of San Miguel.

“We were beneficiaries of the SLEX problem. We saw an uptick in Kawit and in R-1 when the problem started. In fact, we’ve seen a four to five percent increase in traffic because of the SLEX problem. I think while it was really congested during the construction of the Skyway ramp, motorists diverted to our alignment, especially CAVITEX,” he said.

For next year, Bontia said CIC is looking at a stretch revenue target of P3 billion.

“This is because CALAX (Cavite–Laguna Expressway) will come in, plus C5 will have a full year. Then we’re hoping to get our toll fee increase for 2011 and 2014 for R-1 which is pending with the TRB,” he said.

“So it’s a matter of the board of TRB to tackle it, to make necessary resolutions,” Bontia said.

CIC is eyeing to finish by May next year the P300-million second phase enhancement works for CAVITEX.

The second phase of its road enhancements includes the widening of bridges in Wawa, Las Piñas, and Parañaque.

CAVITEX is part of MPTC’s portfolio, which also includes the concessions for the North Luzon Expressway, the Subic-Clark Tarlac Expressway, the NLEX Connector Road, CALAX and the Cebu-Cordova Link Expressway (CCLEX) in Cebu.

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