MPTC earmarks P30 billin for 2022 spending

MANILA, Philippines — Metro Pacific Tollways Corp. (MPTC) is earmarking about P30 billion for 2022 capital expenditures  (CAPEX) to finish a number of tollway projects and start pumping up its new mobility solutions unit.

MPTC president and CEO Rodrigo Franco told The STAR that most of this year’s capex would go to the completion of existing big-ticket projects including the  Cebu-Cordova Link Expressway (CCLEX), Cavite-Laguna Expressway (CALAX), Manila-Cavite Expressway (CAVITEX)-C5 Southlink and the North Luzon Expressway (NLEX) Connector Road.

Franco said new business unit MPT Mobility Inc. would have less than P1 billion capex for this year, allocated to businesses like advertising, parking and motorists facilities.

MPT Mobility was launched by MPTC in October last year to play a key role in the sustainability of the business, as it would serve as the primary organization in its pursuit of new revenue streams.

MPT Mobility, which is comprised of seven subsidiaries offering digitally driven solutions, is seen helping strengthen the company’s commitment to improve mobility in various cities and provinces nationwide.

MPT Mobility is composed of account management company Easytrip Services Corp., centralized customer response organization One Hub, general and maintenance services outsourced manpower provider Southbend Express Services Inc., out-of-home advertising unit Spot On, toll service facility firm Drive & Dine, parking solutions company Dibz, and innovation and diversification unit Business Development.

Franco earlier said MPTC no longer considers itself as just a tollroad company, but more of a mobility company.

MPTC is the country’s largest tollway builder and operator.

For its tollroad business, MPTC is scheduled to start operations within the first quarter the P30.5 billion CCLEX, the company’s first project outside Luzon.

Phase 1 of the P23.3 billion NLEX Connector project is eyed to be finished by the second quarter, and  Phase 2 by the fourth quarter.

Also slated for completion by the fourth quarter is the P17.2 billion CAVITEX C5 Link, while scheduled to be finished by the third quarter are the CALAX Cavite segment and the NLEX Segment 8.2 Sec. 1A.

MPTC also has a proposed P22.43-billion Cavite-Tagaytay-Batangas Expressway project which is still awaiting final government approval.

The company, which serves as the tollroad arm of conglomerate Metro Pacific Investments Corp., is also planning to conduct an initial public offering in the next two to three years.