METRO PACIFIC Tollways Corp. (MPTC) aims to secure a P15-billion investment from Spanish infrastructure development company Acciona S.A. this year for the expansion and upgrade of the Cebu-Cordova Link Expressway (CCLEx), the company’s president said.
“What we need is about P15 billion. We will probably try to shoot for that amount. I hope they put in more,” MPTC President and Chief Executive Officer Rogelio L. Singson told reporters on the sidelines of the Management Association of the Philippines general membership meeting last week.
“To me, CCLEx alone does not make sense. You need to connect to the city side of Cebu and bring it close to the airport on the Lapu-Lapu and Cordova side,” he added.
He said MPTC is currently in talks with Acciona and that the company is hoping to sign the deal within this year.
To recall, MPTC said previously that it was in negotiations with a European firm for the expansion of CCLEx, which is part of the company’s strategy to make the expressway viable, as it currently reaches only 30% of its projected traffic volume and struggles to meet the target of 50,000 motorists per day.
The P33-billion CCLEx is an 8.9-kilometer toll bridge that connects the town of Cordova on Mactan Island to Cebu City via the South Road Properties.
The tollway company plans to expand both ends of CCLEx, linking it to Bacalso and Lapu-Lapu.
“Whatever they will invest is going to be used to complete those two segments,” Mr. Singson said.
Acciona specializes in infrastructure development, including roads, expressways, and renewable energy projects. Acciona is also MPTC’s partner in building CCLEx.
Separately, MPTC, through NLEX Corp., said the Toll Regulatory Board has approved the collection of new toll rates for NLEX Connector starting Oct. 15.
NLEX said the toll adjustment is part of its program to collect the opening toll for NLEX Connector on a staggered basis to soften its impact on motorists.
Based on the approved toll matrix, class 1 vehicles will be charged P119, class 2 vehicles will pay P299, and class 3 vehicles will be charged P418.
Initial rates for NLEX Connector were first implemented last year, or four months after the opening of the Caloocan to España Section, the company said, adding that full rates will be collected once the NLEX Connector project is finished.
NLEX Corp., a unit of MPTC, is the concessionaire of NLEX Connector, which is an eight-kilometer all-elevated highway to be developed along the C3 up to the Metro Manila Skyway Stage 3 at the Polytechnic University of the Philippines, Sta. Mesa in Manila.
“The road provides them with a reliable alternative route that is accessible 24/7, without truck bans, thus increasing travel convenience and improving the movement of goods and cargo,” NLEX said.
MPTC is the tollway arm of Metro Pacific Investments Corp., which is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
