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By Denise A. Valdez
A UNIT OF Metro Pacific Tollways Corp. (MPTC) received the status of Originator (OPS) by the Department of Public Works and Highways (DPWH) for its Cavite-Tagaytay-Batangas Expressway Project (CTBEx) on Thursday.
" Malaking bagay itong project dahil yung mga pupunta sa Tagaytay, instead of two and a half hours, baka a little over 39 one hour na lang magiging travel time nila So napakalaking bagay his decongestion. Pati yung mga pupunta sa Nasugbu, definitely maka- cut yung travel time (This is an important project because those who go to Tagaytay would have reduced travel time from two and a half hour to a little more than One hour will contribute a lot to decongestion, even for those traveling to Nasugbu, this will certainly help to reduce travel time, "said DPWH secretary Silang Cavite.
A year after MPCALA Holdings, Inc. submitted the proposal to the DPWH, it is now go to the next step by entering into a public-private partnership with the government: obtain the approval of the Coordinating Committee of the National Authority for Economic and Development (NEDA-). ICC)
The CTBEx proposal is the first toll road project to receive the OPS from the Duterte Administration. It aims to build a 50.42 kilometer toll road that will link the Cavite-Laguna (CALAX) highway to Silang East Interchange at Tagaytay City and Nasugbu, Batangas.
Once completed, the highway should reduce travel time from Governor's Drive to Nasugbu by 58 minutes, and from Sta. Rosa to Tagaytay from 1 hour and 15 minutes
While Mr. Villar hopes to open CTBEx in 2022, MPTC's Chief Financial Officer Christopher Daniel C. Lizo said yesterday during the program that he is pledging to deliver at least the first two sections of the toll road by the said year.
"This year we are going through the NEDA-ICC process, and once we get through the Swiss challenge, we can start the project," said the DPWH secretary. 60 days should begin in the second quarter of 2019.
As part of the Swiss challenge, third-party companies may submit counter-proposals to which Metro Pacific could respond.
Luigi L. Bautista, President of MPCALA Holdings told reporters that they would start raising funds for the project of 22.43 billion pesos after the swiss challenge.
"By the time we get the final price, it's the moment when we will go and get the lenders, He said.
MPTC is a unit of Metro Pacific Investments Corp. (MPIC). MPIC is one of the three main Philippine units of First Pacific Co. Ltd. in Hong Kong, the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a subsidiary of MediaQuest Holdings, Inc., a subsidiary of the LTVT Trust Fund. , has a majority stake in BusinessWorld through the Philippine Star Group, which she controls.
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