Swiss challenge for CTBEx seen before end-2019
By: Denise A. Valdez, as seen on https://www.bworldonline.com/swiss-challenge-for-ctbex-seen-before-end-2019/, May 10, 2019 7:05 pm
THE Metro Pacific Tollways Corp. (MPTC) said it is expecting to conduct the Swiss challenge for the Cavite-Tagaytay-Batangas Expressway (CTBEx) project before the year ends.
“We’re hoping by at least third or fourth quarter it will be undergoing Swiss challenge already. It’s already May, and hopefully by second quarter it will be cleared for Swiss challenge so we can do the Swiss challenge by the third quarter, at the latest fourth quarter,” MPTC President Rodrigo E. Franco told reporters last Tuesday.
The CTBEx proposal of MPTC’s MPCALA Holdings, Inc. is currently being evaluated by the National Economic and Development Authority (NEDA). It was given original proponent status by the Department of Public Works and Highways (DPWH) in July 2018.
MPCALA Holdings proposed to build a P22.43-billion, 50.42-kilometer toll road that would connect the Cavite-Laguna Expressway at the Silang East Interchange to Tagaytay City and Nasugbu, Batangas.
It is expected to reduce travel time from Governor’s Drive to Nasugbu by 58 minutes, and from Sta. Rosa to Tagaytay by 1 hour and 15 minutes.
Under the Swiss challenge, third parties are invited to submit competing offers, while the original proponent will be given the right to match them.
If MPCALA Holdings prevails during the Swiss challenge, it will be awarded the concession for the CTBEx project.
MPCALA Holdings is under MPTC, the tollways unit of Metro Pacific Investments Corp. (MPIC). MPIC is one of three key Philippine units of Hong Kong based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.
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