Philtranco sets P4-B, 5-year capex

Philtranco Service Enterprises Inc. is alloting P4 billion for capital expenditures over the next five years.

Philtranco chief executive officer Jose E.B. Antonio said yesterday that the P4 billion would be used to buy a new fleet of buses, refurbish and expand the company’s terminals and acquire ferry boats in line with the government’s ambitious program to create a "seamless highway."

Philtranco plans to take a lead role in the government’s plan to establish a "seamless highway" through the Philippine western seaboard that would connect the five major islands of Luzon, Mindoro, Panay, Negros and Mindanao, by passenger bus and ferry boats.

Philtranco plans to buy 200 new buses from MAN of Germany and 12 ferry boats.

It will refurbish and expand its existing terminals to accommodate more passengers and cargo. The expansion would accommodate up to 3,000 passengers a day from the current 1,000 and boost cargo volume to 100 tons a day.

Antonio said creating a seamless highway would provide Filipinos a cheaper alternative to air transport.

Philtranco already has an existing fleet of 349 buses, 20 of which provide luxury service, 164 are air-conditioned and 165 are ordinary buses.

Philtranco currently has 13 terminals nationwide.