MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is bidding out the selection of its private sector partner for the management, operations and maintenance of the Subic-Clark-Tarlac Expressway (SCTEX).
At least two of the country’s biggest infrastructure conglomerates have expressed interest in acquiring a stake in the SCTEX, namely the Metro Pacific Group and San Miguel Corp. (SMC).
According to BCDA, the private sector partner shall be responsible for the operational funding requirements for SCTEX, including insurance and the provision of management services, toll collection, traffic safety and security management, toll road maintenance, including other support services.
The winning bidder will also provide BCDA a semi-annual lease/concession fee amounting to the peso equivalent of the yen-dominated loan from the Japan Bank for International Cooperation (JICA) as well as all financing charges, payable to BCDA 10 days prior to its due dates, or 20 percent of the audited gross toll revenues, whichever is higher.
BCDA financed the construction of the 93.77 km tollroad through a P22-billion concessional loan from the JICA.
The terms of reference will be available to prospective bidders for a non-refundable amount of P250,000. A pre-bid conference has been scheduled for Nov. 10.
Metro Pacific Tollways Corp. chairman Manuel Pangilinan earlier confirmed to his group’s interest in acquiring the SCTEX from government as well as his desire that the JICA concessional loan remain.
The Metro Pacific group later announced that it was submitting an unsolicited proposal for SCTEX.
Meanwhile, the SMC group is said to have offered to enter into a joint venture with the BCDA for SCTEX.
The Tollways Management Corp. (TMC), partly owned by Metro Pacific Tollways, currently operates the 94-km SCTEX as well as the North Luzon Expressway (NLEX). The Manila North Tollways Corp. (MNTC) holds the concession for NLEX. — With Elisa Osorio