MANILA, Philippines – Infrastructure giant Metro Pacific Investments Corp. (MPIC) said the P18 billion toll road connecting the North Luzon expressway and South Luzon expressway won’t be completed within the term of President Aquino.
MPIC chairman Manuel V. Pangilinan said the decision of the government to subject the connector road to a Swiss Challenge based on the opinion issued by the Department of Justice would delay the project by at least two years.
“No way we can finish by the time the President steps down. It’s about a two-year delay,” he said.
Pangilinan said MPIC was looking at finishing the connector road within the term of President Aquino.
“We had anticipated finishing sometime middle of 2016 by the time the President steps down. Now it may be completed by middle of 2017 onwards,” he added.
The MPIC chairman said the project would have to be resubmitted by the National Economic and Development Authority (NEDA) Board for approval.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
The Justice department issued a legal opinion last July stating that the project should be reverted back to the unsolicited proposal and should be subjected to a Swiss challenge after deeming the joint venture between MPIC’s Metro Pacific Tollways Development Corp. (MPTDC) and state-run Philippine National Construction Corp. (PNCC) illegal.
