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MNTC, PNCC finalizing connector road JV

Rappler.com

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The Pangilinan-led unit will present joint venture options to state-owned PNCC this November

MANILA, Philippines – A unit of the Manuel Pangilinan-led Metro Pacific Investments Corporation (MPIC) and state-owned Philippine National Construction Corporation (PNCC) are finalizing a joint venture deal for the P23-billion road that will link the North and South Luzon expressways.

MNTC president Rodrigo Franco said MNTC will present this month options on how to undertake the venture.

The presentation will be the final stage before the parties forge any agreement.

“The directive of government is to do a joint venture with PNCC, so we are now in the final stage. We still need to make a formal presentation to PNCC, but we’ve touched base and just discussed,” explained Franco.

He added that MNTC wants “to finalize the joint venture this year so we can start construction next year.”

One option, Franco said, is to use an existing JV with PNCC as a vehicle for the connector road deal. Another is to create a new JV where MNTC will hold a controlling stake of 90%, and PNCC, 10%.

Whatever the two parties will agree on will be presented to the Toll Regulatory Board for approval.

MNTC’s unsolicited proposal for the connector road will no longer undergo Swiss challenge once the JV with government is approved.

MNTC is proposing to construct a 13.4-km, 4-lane elevated expressway that will connect NLEx and SLEx. The expressway will be built over the Philippine National Railway tracks, and will have exits to Quirino, España and 5th Avenue.

San Miguel Corporation-backed Citra is also proposing to build a 14-km, 6-lane connector road, which will have exits to Quirino, Plaza Dilao, Aurora Boulevard, E. Rodriguez Avenue, Quezon Boulevard, Sgt. Rivera and Balintawak.

The two roads will intersect beginning Buendia Avenue up until the Polytechnic University of the Philippines campus in Sta Mesa, Manila. – Rappler.com

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