The tollway unit of Metro Pacific Investments Corp. said it will spend P10 billion this year to finance the construction of two expressways south of Manila.
Metro Pacific Tollways Corp. chief financial officer Christopher Lizo said it would use the P10-billion capital expenditures for 2018 mostly for the construction of the Cavite-Laguna Expressway Project and C5-South Link Expressway Project.
The P12-billion C5 South Link Project is a 2×3 lane expressway from Coastal Road to SLEx/C-5 Road with a total length of about 7.74 kilometers. This will allow residents from Cavite, Las Piñas and parts of Parañaque to avoid Edsa and take a direct link between C5 and Cavitex.
Cavitex Infrastructure Corp. president and chief executive Luigi 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 the villages of Parañaque 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.
When completed, the expressway will provide a seamless connection to Cavitex road network and to Cavite-Laguna Expressway which is slated for completion in 2020.
MPCala Holdings Inc. earlier tapped DM Consunji Inc. for the construction of the Laguna side of the Calax and Leighton Holdings of Australia for the Cavite side of the project.
Calax involves the financing, design, construction, operation and maintenance of a four-lane, 45-kilometer closed-system toll expressway connecting Cavitex and South Luzon Expressway.
The P35.4-billion expressway will start from Cavitex in Kawit, Cavite and end at the SLEx-Mamplasan Interchange in Biñan, Laguna.
MPCala also submitted an unsolicited proposal to build a P22.43-billion expressway that will connect Cavite, Tagaytay and Batangas.
The Cavite-Tagaytay-Batangas Expressway is a 46-kilometer road that will link Cavite Expressway and Cavite Laguna Expressway in Silang, Cavite to Tagaytay City and will terminate in Nasugbu, Batangas.