MANILA, Philippines – Metro Pacific Tollways Corp. (MPTC), a unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), has earmarked P6 billion for its capital expenditures next year to bankroll major road projects.
MPTC chief finance officer Christopher Daniel Lizo said the bulk of the budget next year would be for the construction of two road projects known as Segments 9 and 10 that would connect to the North Luzon expressway (NLEX).
The Segment 9 which has a cost of P1.6 billion is a 2.4-kilometer road linking NLEX to MacArthur Highway while Segment 10 valued at P10 billion is the 5.65-km road from MacArthur Highway to Circumferential Road 3 (C3).
Of the total amount for next year, Lizo said MPTC would spend P5 billion for Segment 10 while the balance of P1 billion would be used for Segment 9.
“We are completing Segment 9 next year and we are hoping we can start Segment 10 which is about P10 billion,” he added.
According to him, construction of Segment 10 is expected to start in the second quarter next year and would be completed after two years.
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Lizo said the company is spending close to P1 billion for its capital expenditures this year.
MPTC is the largest toll road operator in the Philippines operating 64 percent of the total 300 kilometers of toll roads in the country including the 85-km NLEX, the 94-km Subic-Clark-Tarlac expressway (SCTEX), and the 13.75-km Manila Cavite toll expressway (Cavitex).
MPIC has allocated over P41 billion for the construction of major road projects over the next five years.
The infrastructure conglomerate is pursuing a P23-billion road that would connect NLEX with South Luzon expressway (SLEX) through a joint venture with state-run Philippine National Construction Corp. (PNCC) that holds the franchise for both road networks.
Malacañang earlier gave Citra Central Expressway Corp. of San Miguel Corp. (SMC) the green light to start the construction of a P26.5 billion expressway that would connect the NLEX and SLEX.
The Department of Transportation and Communications (DOTC) and the Toll Regulatory Board (TRB) would oversee the project that is expected to start construction early in the second quarter of next year.
The 14.2-kilometer road system would decongest EDSA and other major roads such as Quezon Ave., Araneta Ave., Nagtahan, and Quirino. It is also expected to greatly reduce travel time from Buendia to Balintawak to just 15 minutes from the usual two hours or more.
The DOTC wants the construction of both connector roads to start early next year so that this infrastructure would be completed in time for the Leaders Meeting of the Asia Pacific Economic Cooperation (APEC) which the Philippines would be hosting in 2015.
Both MPTC and Citra should have a common area spanning five kilometers from Quirino in Manila up to Nagtahan in Sta. Mesa in Manila crossing the Pasig River.