MPIC eyeing toll road projects outside Metro Manila
MANILA, Philippines – Metro Pacific Tollways Corporation (MPTC), a unit of Metro Pacific Investments Corporation (MPIC), said it is looking to develop road projects outside Metro Manila.
MPTC president Ramoncito Fernandez said one project is a bridge worth around P12 billion that will connect Cebu City and Mactan Island.
“We are still pursuing this Cebu Third Bridge option, connecting Cebu and Mactan,” Fernandez told reporters at the groundbreaking of a segment of the North Luzon Expressway (NLEX) Harbor Link project on Monday, March 3.
MPTC submitted a proposal to build the bridge for the Cebu government. The company is preparing to conduct a feasibility study.
Aside from Cebu, Fernandez said other projects in Visayas and Mindanao are "good" targets.
He explained that major players are looking to double the country's existing 300-kilometer toll road network to be more in line with Malaysia's and Indonesia's toll road systems spanning 1,500 kilometers and 700 kilometers, respectively.
He said the MPIC group wants to take up to 60% share of the road network.
The group, led by businessman Manuel V. Pangilinan, unveiled Segment 10 of its NLEX Harbor Link project. The project will cost between P36 billion and P40 billion over the next 3 to 5 years.
The projects segments include the following:
- Segment 8.2: a 7.5-kilometer “urban expressway” linking NLEX to Circumferential Road 5 (C5)
- Segment 9: a 2.4-kilometer road costing around P1.6 billion, linking NLEX to MacArthur Highway
- Segment 10.1: a 5.65-kilometer elevated 4-lane toll road from MacArthur Highway to the North Harbor via the C3 worth around P10.5 billion.
- Segment 10.2: A proposed segment connecting NLEX and the South Luzon Expressway worth P18 billion. Not yet approved by the Toll Regulatory Board.