MABALACAT CITY—The government and Manila North Tollways Corp. expect to earn P275 billion over the next 28 years from the operations of Subic-Clark-Tarlac Expressway.
Manila North Tollways Corp. on Thursday assumed the operations and management of the 94-kilometer toll road, after state-run Bases Conversion Development Authority turned over the project during simple rites in Barangay Dolores here, after six years of negotiations.
Ramoncito Fernandez, president of Metro Pacific Tollways Corp., the parent firm of MNTC, said his company was “very happy” with MNTC’s takeover of the SCTEX concession.
“The concession further solidifies Metro Pacific’s leadership in the Philippine toll road industry and MPTC will continue to innovate and pursue technologies to ensure efficient delivery of our mission,” Fernandez said.
MPTC is the largest toll road operator in the country, operating 60 percent of the country’s 320 kilometers of toll roads. It also operates the North Luzon Expressway and Manila Cavite Expressway.
MNTC handed a P3.2-billion check as upfront payment to BCDA, a condition provided under the SCTEx business agreement.
The management takeover would pave way for the toll integration collection of the North Luzon Expressway and SCTEx.
“By December next month, a partial integration of the toll collection system will be implemented and the full integration will be made before the Holy Week next year,” said MNTC president and chief executive Rodrigo Franco.
Under the agreement, MNTC will be the concessionaire of the SCTEx for the next 28 years.
President Aquino approved the supplemental toll operations agreement among BCDA, MNTC and the Toll Regulatory Board on Oct. 16, formally granting MNTC the concession to manage, operate and maintain the 94-kilometer toll road.
BCDA president and chief executive Paciano Casanova said the agreement marked the beginning of a long standing public-private partnership between BCDA and MNTC to provide world-class service to its motorists.
“For starters, it will offer a more efficient infrastructure with a seamless travel between the NLEX and the SCTEX not to mention the use of other technologies in the future such as radio frequency ID to make it even more efficient for both the operator and motorists,” Casanova said.
BCDA chairman Ma. Aurora Geotina-Garcia said the SCTEX business agreement was a benchmark for other PPPs to replicate.
“The SCTEX is a viable government project that is seen to generate some P275 billion in revenues under the 28-year contract period,” Garcia said.
She said of the amount, 50 percent or P137 billion would be the share of BCDA which would be used to pay the P25-billion loan from Japan International Cooperation Agency, which was used to build the toll road.
“The remaining revenues will be used to fund future government programs and projects for the benefit of the Filipino people,” Garcia said.
Franco said with MNTC at the helm of SCTEX operations, motorists could expect additional investments in SCTEX infrastructure to further improve service.
“Our investment in the SCTEX will focus on the delivery of better service to the motoring public. Improved service is good investment as this will bring in more motorists to patronize the toll road,” Franco said.