MANILA, Philippines - Pangilinan-led Metro Pacific Tollways Corp. (MPTC) intends to sign an agreement on the common alignment for the North Luzon Expressway (NLEx)-South Luzon Expressway (SLEx) connector road before the year ends.
MPTC, the tollways arm of the Metro Pacific Investments Corp. (MPIC), intends to strike the deal with the other proponent of the NLEx-SLEx connector, Citra Metro Manila Tollways Corp. (CMMTC), on or before December 15, said MPTC President Ramoncito Fernandez at the sidelines of the EJAP Economic Forum 2012 on Thursday, November 22.
Fernandez said MPTC and San Miguel Corp. backed-CMMTC will submit their working plan for the National Economic and Development Authority's approval next month.
"The MPIC’s connector road project has been conditionally approved by NEDA-ICC last November 8. The condition is that we, MPIC and CMMTC, should come to an agreement on the common road alignment. We agreed to treat each other as co-equals and we intend to sign this agreement on or before December 15," he said.
MPTC expects the NLEX-SLEX road connector project to be fully operational by 2016.
The initial cost of the common alignment was pegged at P3 billion, but Fernandez said this has increased because the common segment of the connector road now spans from Buendia in Makati City all the way to Polytechnic University of the Philippines in Sta. Mesa.
Before, the common alignment only covered Buendia to Plaza Dilao in Manila.
"The cost has moved. We were only thinking then of 3 kilometers, but now its 5," noted Fernandez.
MPTC earlier submitted a proposal to government for the construction of a P23.6-billion road that will connect NLEx and SLEx by 2016. The proposal involves the construction of a 13.2-km overhead road via the Philippine National Railway tracks.
The Department of Public Works and Highways accepted the proposal, albeit subject to a Swiss challenge.
Meanwhile, the connector road proposal of CMMTC involves the construction of the 14.2-km, 6-lane elevated tollway worth P25.4 billion. CMMTC's road will take a different route, and will have various exit points.
The government accepted CMMTC's proposal after the company asserted its right to construct the road under a concession agreement with government for the Skyway. - Rappler.com
An average Filipino consumes 1.4 liters of gin every year, largely due to the effective marketing...
Indonesian lawmakers on Monday, June 17, approved a revised budget in a move that paves the way for...