Tollway firm eyes KL project
The tollways unit of Metro Pacific Investment Corp. (MPIC) has joined the bidding for a toll road project in Kuala Lumpur, Malaysia as part of its strategy to expand regional presence.
Manuel Pangilinan, MPIC chairman, told reporters results of the bidding are expected in the next two months.
MPIC through its tollways unit Metro Pacific Tollways Corp. (MPTC) has presence in Thailand, Vietnam and Indonesia.
The entry in Malaysia is important for the company’s strategic plan to establish a Pan-Asian Tollways group.
MPIC has 29.45 percent stake in Don Muang Tollways Public Company Ltd (DMT) a major toll road operator in Bangkok, Thailand and has partnership with CII Bridges and Roads (CII B&R) for Vietnam.
Last year, DMT reported a 2- percent increase in daily traffic to 97,919 while CII B&R delivered an 8-percent increase to 52,788 in 2017.
The company expanded in Indonesia through the acquisition of 48.3 percent of PT Nusantara, a publicly-listed limited liability company in Indonesia.
PT Nusantara’s infrastructure portfolio generates approximately 80 percent of its core net income from toll roads, which attract over 300,000 vehicle entries a day.
Locally, MPTC will spend approximately P122.8 billion in the next five years on building highways and toll roads around the Philippines.
MPTC projects in the pipeline include NLEX Harbor Link, NLEX Harbor link Radial Road 10; Cavitex C5 South Link Expressway valued at P12.6-billion; Cebu-Cordova Link Expressway, P26.3-billion ; Cavite Laguna Expressway, P16.9 billion and NLEX-SLEX connector road for P23.3-billion.
MPTC also operates North Luzon Expressway, Manila Cavite Expressway and Subic-Clark-Tarlac expressway.