A tollway unit of Metro Pacific Investment Corp. expects to double revenues in four years, boosted by the completion of new expressway projects, a top executive said over the weekend.
“This year, we expect P1.46-billon revenues and we hope to be able to double that in four years. So by 2020, we hope to be able to do P3.4 billion,” Metro Pacific Tollways South president and chief executive Luigi Bautista said.
Metro Pacific Tollways South handles the concession of all expressways in the south of Manila.
Bautista attributed the growth in revenues to the new and existing projects plus new road segments that would be opened in the coming years.
“And today, you will notice, traffic is really growing. We’re averaging about 140,000 transactions a day. When we took over in January 2013, the traffic number was about 90,000. And it continues to grow,” Bautista said.
Bautista also said MPCala Holdings Inc. was constructing the P35-billon Cavite Laguna Expressway, a four-lane, 47-kilometer closed-system toll expressway connecting Cavitex and South Luzon Expressway.
The expressway will start from Cavitex in Kawit, Cavite and end at the South Luzon Expressway-Mamplasan Interchange in Biñan, Laguna.
Bautista also said the construction of the first phase of Cavitex C5 South Link that would will link C5 and Merville, Parañaque by way of a flyover was ongoing. The second phase, which would start in 2017 to link Merville and Cavitex, would cost P9.5 billion.
Cavitex C5 South Link will allow residents from Cavite, Las Piñas and parts of Parañaque to avoid Edsa and take a direct link to and from C5 to Cavitex.
Bautista said the new expressway, which was expected to be completed in 2019, would add 40,000 to 45,000 vehicle traffic per day, on top of the 130,000 vehicles currently using Cavitex.
C5 South Link will ultimately connect with R1 Expressway (Coastal Road) and provide fast, safe and convenient travel for motorists going to and from Parañaque, Las Piñas and Cavite and for Paranaque residents in Multinational, Moonwalk and Merville villages.
Bautista said the new expressway would not only decongest Parañaque villages, but would also provide easier travel from Taguig, Makati, Pasay, Pasig, Quezon City and other northern areas to Manila, Las Piñas and Cavite province.
It will also provide relief for vehicles using the congested Edsa and C5 Road arteries of the metropolis.