The Metro Pacific Tollways Corp., the holding and managing company of the tollways sector of the MVP Group, is investing P120 billion to support the Duterte government’s infrastructure building goals, close on the heels of the call of Presidential Adviser for Flagship Programs and Projects Secretary Vince Dizon for private firms to step in to quicken the construction momentum.
Dizon, who is also president and CEO of the Bases Conversion and Development Authority (BCDA), underscored the “greater participation of the private sector in the Build! Build! Build! program, highlighting the importance of accelerating infrastructure build-up in the country’s economic recovery plan.”
This developed as MPTC Chairman Manuel V. Pangilinan announced that MPTC has “resumed full blast construction of our major tollways projects in strategic areas of Luzon.”
Pangilinan emphasized that the government, more than ever, needs private sector participation in the government’s huge infrastructure development program to further stimulate the Philippine economy.”
“Infrastructure building brings with it a huge multiplier effect on the economy,” Pangilinan said, especially with MPTC’s massive investments in constructing new tollways and expanding its present expressway network.
The Palace’s economic cluster had earlier indicated that the country’s gross domestic product (GDP) growth would decline by 2% to 3.4%, attributable to the slowdown of economic activities due to the pandemic.
Rodrigo Franco, MPTC president, affirmed the resumption of MPTC’s infrastructure building initiatives in key areas in Luzon and the Visayas, particularly Cebu, following the easing of COVID-19 protocols.
MPTC has identified four major expressway expansion areas, backed up by major project investments.
In northern Metro Manila and Central Luzon, MPTC is implementing three major projects this year along the North Luzon Expressway corridor, including the NLEX Connector, with a combined length of 19 kilometers, with an aggregate value of P22 billion.
South of Metro Manila, MPTC has ongoing construction projects in the Cavite Expressway (CAVITEX) network valued at P15.20 billion, with a combined length of 6.75 kilometers.
Another project, the 44-km Cavite Laguna Expressway (CALAX), is bankrolled by a budget of P52.48 billion.
Farther down south, in the Visayas, the construction of the P30.5-billion Cebu Cordova Link Expressway (CCLEX) is set for resumption when Cebu would be placed under GCQ status. The 8.5-kilometer CCLEX, with its iconic bridge crossing the Mactan channel, will directly connect Cebu City with the municipality of Cordova.
On these major infrastructure projects, the MPTC President pointed out that “these major construction activities in North and Central Luzon, Metro Manila, South Luzon and the Visayas will surely quicken the country’s industrial and commercial momentum,” adding, “we welcome the role of being part of the government’s economic recovery effort.”