MANILA, Philippines - The tollway unit of infrastructure giant Metro Pacific Investments Corp. (MPIC) is set to finally take over the 94-kilometer Subic-Clark-Tarlac (SCTEX) expressway within the month after interested companies led by diversified conglomerate San Miguel Corp. (SMC) backed out from a price challenge.
Rodrigo Franco, president of MPIC’s Manila North Tollways Corp. (MNTC), said the company is looking at taking over the operations and maintenance of SCTEX later this month after the Bases Conversion and Development Authority (BCDA) did not receive any proposal for the “Swiss Challenge” of the toll road.
He pointed out that both MNTC and BCDA would revise the business operation agreement (BOA) signed three years ago.
“We need to amend and update the BOA before we take over. Hopefully, everything will be completed in February,” Franco said in a text message.
MNTC and BCDA signed BOA on the four-lane SCTEX in 2011, subject to the approval of President Aquino. Under the agreement, MNTC would operate and manage SCTEX for 33 years. On the other hand, BCDA would be relieved of payment of the P34-billion debt to the Japan International Cooperation Agency (JICA) for the construction of the tollway.
However, Malacañang has ordered the price challenge for the SCTEX maintenance and operations management in the interest of transparency.
SMC and a group represented by the law firm of Aguirre, Abano, Pamfilo, Paras, Pineda, and Agustin have expressed interest in the toll road. Interested companies would have to match the P3.5 billion offer made by MNTC and at the same time share 50 percent of the gross toll revenues with the BCDA.
However, no bids were submitted to the BCDA when the deadline expired last Friday.
Franco said MNTC is spending around P650 million for the integration program for the SCTEX and the 86.7-km North Luzon expressway (NLEX) that includes the relocation of the toll plaza, additional tollbooths, and the deployment of the payment system particularly the Easy Trip.
Integration works, he explained, would commence immediately after the signing of the integration agreement on Feb. 5 and would be completed within seven months.
He said MNTC hopes to finish the integration of both NLEX and SCTEX this November.