MANILA, Philippines - MANILA, Philippines - Metro Pacific Tollways Corp. (MPTC), the country’s largest toll road management firm, is pursuing a joint venture with a state-run firm for its P23-billion connector road project, a company executive said.
The move is seen to fasttrack the implementation of the toll road that will connect two of Luzon’s key expressways.
“We’re waiting for formal advice from government but we were told there is already a decision and a joint venture with Philippine National Construction Corp. (PNCC) is the vehicle they want us to pursue,†MPTC president Ramoncito S. Fernandez told reporters.
The toll road unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) expects the formal notice within the month, Fernandez said.
MPTC earlier announced that it will own 90 percent of the joint venture company, with the remaining allotted for PNCC, which holds the franchise for both North Luzon Expressway and South Luzon Expressway.
MPTC earlier submitted an unsolicited proposal for the P23-billion connector road, which is subject to Swiss challenge. But given the joint venture with PNCC, the Swiss challenge will be scrapped.
Despite the joint venture, Fernandez said MPTC’s agreement for a common alignment with conglomerate San Miguel Corp.’s Citra Metro Manila Tollways Corp. will remain.
Skyway operator Citra also plans to build a 14-kilometer, six-lane elevated toll way parallel to the Epifanio de los Santos Avenue (EDSA) as a part of the Skyway contract it bagged in 1995.
“From the approval, we’re asking another six months for detailed plan and 28 months to construct so it will be three years [for project completion],†Fernandez said.
The Department of Transportation and Communication wanted the construction of the connector road to start early next year so that the 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.