Metro Pacific Investments Corp. (MPIC) has won original proponent status for its unsolicited proposal to build a 50.42-kilometer expressway, reported on Friday, July 27. The said project aims to decongest existing roads to Tagaytay City, a prime tourist spot in the south of the metro.
In a divulgence to the Philippine Stock Exchange, MPIC stated that the Cavite-Tagaytay-Batangas Expressway (CTBEx) Project has been approved by the Department of Public Works and Highways (DPWH) as an unsolicited project. If given the final award, the company exacts to begin construction by 2019.
“We expect to start construction by next year. This year, we are going to the NEDA (National Economic and Development Authority) ICC (Investment Coordination Committee) process. Once we go to the Swiss challenge, we start with the project,” DPWH Secretary Mark Villar said in a report by Rappler.
The project would nearly cost MPIC Php25 billion to develop. It will comprise eight main interchanges that will start at the Silang East Interchange of the still under construction Cavite-Laguna (CALA) Expressway and will end at Nasugbu in Batangas. Various news reports said the facility may cut travel time from Manila to Tagaytay from the usual two and a half hour-drive to just one hour.
“The project aims to provide high facility alternative route for traffic, presently plying Aguinaldo Highway and Sta. Rosa-Tagaytay Road, which are experiencing congestion during peak periods and weekends,” the DPWH said on its website.
The government decision is a welcome development for the MPIC, whose subsidiary, Metro Pacific Tollways Corp. (MPTC) is also constructing the 45.29-kilometer CALA expressway that will connect its Cavite Expressway (CAVITEX) to South Luzon Expressway (SLEX). The company started the development of the toll road system in 2017 and is assumed to finish by 2020.
News Source: Elyssa Christine Lopez / Entrpreneur PH