Metro Pacific Investments Corporation (MPIC) announced in a disclosure to Philippine Stock Exchange and Securities and Exchange Commission on July 27 announced that the Department of Public Works and Highways (DPWH) has granted its indirect subsidiary Metro Pacific Tollways South Corp. (MPT South) original proponent status for its proposed Cavite-Tagaytay-Batangas Expressway (CTBEx) Project.
“The Project, a 50.42 kilometer toll facility, is intended to connect seamlessly with the Cavite-Laguna and Cavitex Expressways of MPTC (Metro Pacific Tollways Corp.) and is expected to provide congestion relief to Aguinaldo Highway and Tagaytay-Nasugbu road,” MPIC said.
“It is currently configured to have 8 main interchanges and two spur roads, and is estimated to cost approximately P25 Billion and if awarded, will be funded through a combination of internally-generated funds and debt,” it added.
MPCI explained that the final award of the Project to MPT South will be subject to completion of all regulatory approvals and the Swiss Challenge under existing laws.
“In view of these requirements, the earliest that the Project can be awarded is during the first quarter of 2019, with construction to proceed soon thereafter,” it added.
CTBEx will begin at Silang East Interchange of Cavite-Laguna (CALA) Expressway which is currently under development. It will traverse mostly the rural areas of Silang, Tagaytay, Amadeo, Mendez, Alfonso and Magallanes, all in Cavite province, and Nasugbu in Batangas.
Sources: http://edge.pse.com.ph/openDiscViewer.do?edge_no=93709f0c188bd40943ca035510b6ec2b#sthash.GoxjNU6k.dpbs; http://www.dpwh.gov.ph/dpwh/PPP/projs/cabatex