EXPRESSWAY operator Metro Pacific Tollways South Corp. (MPTSC) announced it has allotted P10 billion (about $200.9 million at current exchange rates) in capital outlays for two major expressway projects this year.
Metro Pacific Tollways Corp. CFO Christopher C. Lizo said the firm programmed the amount to finance the construction of the Cavite-Laguna Expressway (Calax) and the C5 South Link of the Manila-Cavite Toll Expressway (Cavitex).
“For south, the capital expenditures is about P10 billion—mostly for Calax and [the] C5 South Link,” Lizo said. The construction of the four-lane 47-kilometer-long Calax will connect Cavitex in Kawit, Cavite, to the South Luzon Expressway (Slex)-Mamplasan Interchange and will cost an estimated P35.42 billion ($787 million).
“It will open end-2020 or early of 2021, but we may open certain sections ahead,” Lizo said.
The C5 South Link is a P11.7-billion project that aims to connect R-1 in Parañaque to C5 in Cavitex. It will run parallel to the runway of the main airport in Pasay and will cross the Slex and Skyway toward C5.
“It will open in phases: one in 2019 and the whole alignment by 2020,” Lizo added.
The Slex is being operated by San Miguel Corp. and Indonesia-based Citra group, while the Northern Luzon Expressway is being operated by the Manila North Tollways Corp.
Lizo said the capital requirement for the C5 South Link will be financed through a mix of debt and equity.
“We are in talks with local banks for the debt portion,” he said.
The MPTSC aims to double its revenues in the next three years.