Metro Pacific Tollways South Management Corp., a unit of Metro Pacific Tollways Corp., is looking at green funds in the medium term to refinance debt as it aims to transform the Cavite-Laguna Expressway (CALAX) into a “green highway.”
“We want to make Calax [Cavite Laguna Expressway] as a pioneer in terms of doing green financing in the country in the next three yeas as we complete Calax,” Christopher Lizo, MPTC chief finance officer and senior executive sponsor for sustainability, said in a virtual briefing Monday.
“When we are ready we will consider looking at green financing to refinance our existing loans,” he added. Lizo said financing for the the completion of Calax was already in place.
CALAX as of today operates from Biñan, Laguna up to the east of Silang, Cavite. It is set to be fully completed by 2023.
CALAX is a 45-kilometer high-speed road network connecting the two provinces of Cavite and Laguna. It aims to serve around 45,000 motorists upon completion.
MPT South has teamed up with the United States Agency for International Development’s Sustainable Interventions for Biodiversity, Oceans and Landscapes (SIBOL) for its sustainability efforts to turn Calax into a ‘green highway’.
“We are grateful to USAID SIBOL for allowing us to tap into their pool of knowledge and expertise so that we can make science-based and nature-centered decisions as we move towards our goal of turning CALAX into a green highway,” Roberto Bontia, MPT South president and general manager, said.
The agreement with MPT South is in line with USAID SIBOL’s goal of improving biodiversity conservation by working towards voluntary industry standards and replicating the re-wilding model in similar projects.
The project works with government agencies, academia, local communities and the private sector in turning this objective into concrete activities that positively impact the environment.