Metro Pacific Tollways Corp., the toll road unit of infrastructure conglomerate Metro Pacific Investments Corp., is keen on acquiring up to a 45-percent interest in a tollway project in Indonesia.
MPTC president and chief executive Rodrigo Franco said in a recent interview an Indonesian company was selling between 22-percent and 45-percent stake in a tollway project which was estimated to cost at least P5 billion.
Franco did not disclose additional details on the project because of a confidentiality agreement.
“They [Indonesian firm] are not selling 100 percent. They just are just selling minority of 22 percent up to 45 percent,” Franco said.
Metro Pacific chairman Manuel Pangilinan said last month MPTC was shortlisted to acquire a toll road project in Indonesia.
Pangilinan said the project covered more than 100 kilometers. The winning bidder is expected to be announced in a few weeks.
Aside from Indonesia, MPTC is also looking at toll road projects in Malaysia and Vietnam.
The MPTC group operates the North Luzon Expressway, Subic-Clark-Tarlac Expressway and Manila-Cavite Expressway. It also has investments in Thailand and Vietnam.
Franco said the company was poised to start construction of the P35.4-billion Cavite-Laguna Expressway in the first half of 2017, as a substantial portion of the right-of-way acquisition was already secured.
“We will start on the Laguna side of the project,” Franco said.
DMCI Consunj Inc. was hired to construct the Laguna side of the project, while Leighton Holdings of Australia would build the Cavite side.
Franco said getting a partner for the Calax project remained an option for the company.
Calax, one of the largest public-private partnership projects, involves the financing, design, construction, operation and maintenance of a four-lane, 47-kilometer closed-system toll expressway connecting Cavitex and South Luzon Expressway.