METRO PACIFIC Tollways Corp. (MPTC) plans to raise P35 billion during the first quarter to fund its Cavite-Laguna Expressway (CALAX) and the C-5 South Link project.
“For C-5 South Link and CALAX, we expect to have financial close in the first quarter,” MPTC chief financial officer Christopher Daniel C. Lizo told reporters in a recent interview.
Mr. Lizo said the tollways arm of the Metro Pacific group allotted P11 billion for South Link and around P25 billion for CALAX .
MPTC earlier said it is planning to spend P10 billion this year for its projects located in the south of Metro Manila, including CALAX and South Link.
In June 2017, the Metro Pacific group broke ground on the P35.43-billion CALAX project, which involves the construction of a 44.6-kilometer four-lane toll road between the Manila-Cavite Expressway (Cavitex) in Kawit, Cavite and the South Luzon Expressway (SLEx) — Mamplasan Interchange.
MPCALA Holdings, Inc., a unit of Metro Pacific, received the notice of award for the 35-year contract to build, operate, and maintain the planned expressway on June 8, 2015, but right-of-way issues for the project site delayed the start of construction.
MPCALA tapped DM Consunji, Inc. for the construction of the Laguna segment, and Leighton, a unit of Australia’s CIMIC Group Ltd., formerly Leighton Holdings, for the Cavite segment.
CALAX is scheduled to open in 2020 or early 2021, but Metro Pacific may open some portions ahead.
The C-5 South Link Expressway is a 7.7-kilometer, six-lane project which will connect C-5 road to Cavitex. The first phase of the project, worth P2.5 billion and covering 2.2 kilometers including a flyover above the SLEx and Skyway from C-5 Road in Taguig to Merville in Sucat, Parañaque, is now under construction.
The whole alignment of the C-5 South Link will be operational in 2020, but will be opened in phases starting next year.
“For C-5 South Link and CALAX, we expect to have financial close in the first quarter,” MPTC chief financial officer Christopher Daniel C. Lizo told reporters in a recent interview.
Mr. Lizo said the tollways arm of the Metro Pacific group allotted P11 billion for South Link and around P25 billion for CALAX .
MPTC earlier said it is planning to spend P10 billion this year for its projects located in the south of Metro Manila, including CALAX and South Link.
In June 2017, the Metro Pacific group broke ground on the P35.43-billion CALAX project, which involves the construction of a 44.6-kilometer four-lane toll road between the Manila-Cavite Expressway (Cavitex) in Kawit, Cavite and the South Luzon Expressway (SLEx) — Mamplasan Interchange.
MPCALA Holdings, Inc., a unit of Metro Pacific, received the notice of award for the 35-year contract to build, operate, and maintain the planned expressway on June 8, 2015, but right-of-way issues for the project site delayed the start of construction.
MPCALA tapped DM Consunji, Inc. for the construction of the Laguna segment, and Leighton, a unit of Australia’s CIMIC Group Ltd., formerly Leighton Holdings, for the Cavite segment.
CALAX is scheduled to open in 2020 or early 2021, but Metro Pacific may open some portions ahead.
The C-5 South Link Expressway is a 7.7-kilometer, six-lane project which will connect C-5 road to Cavitex. The first phase of the project, worth P2.5 billion and covering 2.2 kilometers including a flyover above the SLEx and Skyway from C-5 Road in Taguig to Merville in Sucat, Parañaque, is now under construction.
The whole alignment of the C-5 South Link will be operational in 2020, but will be opened in phases starting next year.
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