MANILA, Philippines – Cavitex Infrastructure Corporation (CIC) of the Metro Pacific tollways group of companies, has announced its intention to start work on the C-5 Link Expressway in July.
The P9-billion ($199.48 million), 7.6-kilometer toll expressway will link C-5 Road in Taguig to R-1 (Coastal) Expressway presently being operated by Cavitex.
The C-5 Link Expressway is part of the current concession of Cavitex for the Manila-Cavite Toll Expressway network.
The Toll Regulatory Board (TRB) is required under the concession to issue the notice to proceed with the construction of the project once an independent consulting firm issues a certification under the toll operation agreement, CIC said in a disclosure to the stock exchange June 24.
The consultant will certify if there is an available right of way for the alignment approved by the Department of Public Works and Highways.
The approval of a final engineering design is now going through final review, and construction schedules and costs are also being reviewed.
Apart from the approval in principle by the TRB, the project has also received the favorable endorsement of Parañaque City and its barangays, as well as the issuance of the environmental compliance certificate from the Department of Environment and Natural Resources.
Once completed, it will provide relief to traffic congestion in Parañaque City, particularly to the residents of Merville, Moonwalk, and Multinational villages.
The C-5 link expressway is also eyed to provide safe, fast, and convenient expressway travel for its users in the Cavite, Las Piñas, Parañaque, Taguig, and Makati and nearby areas that will benefit from the new expressway.
The earnings of the toll road units of infrastructure giant Metro Pacific Investments Corporation (MPIC) rose 15% on the back of the higher volume of vehicles passing through its toll roads in the Philippines and abroad.
MPIC’s Metro Pacific Tollways Corporation booked a core net income of P628 million ($13.92 million) from January to March this year or P82 million ($1.82 million) higher compared to P546 million ($12.10 million) in the same period last year. – Rappler.com
$1 = P45.13