MPIC unit signs deal on toll road connector
posted November 24, 2016 at 07:30 pm by Darwin G. Amojelar
http://manilastandardtoday.com/business/222292/mpic-unit-signs-deal-on-toll-road-connector.html
The tollway unit of Metro Pacific Investments Corp. said Thursday it signed a 35-year concession agreement for the construction of an expressway linking North Luzon Expressway and South Luzon Expressway.
Metro Pacific Tollways Corp. president and chief executive Rodrigo Franco said the P23-billion NLEx-SLEx connector road project would start construction in 2018 and would be completed by late 2018.
The government has 30 months from signing of toll concession agreement to deliver the right of way. “We are hoping though that the government can deliver the ROW in sections to enable us to start sectional construction before the 30-month deadline,” Franco said.
The company would invest P15.74 billion on the NLEx-SLEx project, while the government would spend P7.46 billion for right-of-way acquisition.
The connector road is an unsolicited proposal approved by the National Economic and Development Authority under the build-operate-transfer scheme for the design, financing, construction, operation and maintenance of an eight-kilometer elevated toll expressway over the right of way of Philippine National Railways.
The project starts at the junction of NLEx Segment 10 at C-3 Road/5th Ave. in Caloocan City and seamlessly connects to South Luzon Expressway though Metro Manila Skyway Stage 3 Project in Manila.
Metro Pacific Tollways Development Corp. and subsidiary Manila North Tollways Corp., the original proponent for NLEx-SLEx connector road Project, received the notice of award from the Public Works Department on Sep. 19.
MPIC Group won the Swiss Challenge for the project in July, after no company submitted comparative proposals to challenge the latter’s offer. MPTDC reduced its internal rate of return for the project to 10.87 percent from 12.09 percent, by lowering the opening tariff from P100 to P87.
