Metro Pacific Investments Corp. (MPIC) on Friday said its toll roads business is targeting to double its gross revenues once existing projects become fully operational.
“The plan for MPIC’s toll roads business is to double its top-line revenue upon completion and full operation of its existing projects,” the listed infrastructure conglomerate said in a statement.
At the company’s 15th listing anniversary on Dec. 15, MPIC President and Chief Executive Officer Jose Ma. K. Lim said: “We have, in the last few years, invested more than a hundred billion pesos in building new roads and even a bridge in Cebu that will connect the city to its airport in Mactan next year.”
“These new projects will double the size of our toll roads business by 2023-24,” he added.
To recall, Metro Pacific Tollways Corp. (MPTC) President and Chief Executive Officer Rodrigo E. Franco said at a forum in October that the company expects to open the Cebu-Cordova Link Expressway (CCLEX) project to motorists in the first quarter of 2022.
Aside from CCLEX, MPTC, the tollways unit of MPIC, holds the concession rights for Cavite–Laguna Expressway (CALAX), Manila–Cavite Expressway (CAVITEX), Circumferential Road 5 (C-5) Link Expressway, North Luzon Expressway (NLEX), NLEX Connector Road, Subic-Clark-Tarlac Expressway (SCTEX), and Cebu-Cordova Link Expressway (CCLEX).
Mr. Franco likewise said the company expects to complete next year the NLEX Connector Phase 1, CALAX Cavite Segment, NLEX Segment 8.2 Section 1A, NLEX Connector Phase 2, and CAVITEX C5 Link projects.
The company expects a 32% increase in the average daily traffic volume on its expressways in 2022, he noted.
MPTC aims to build an “urban ring road” to help manage economic losses from
city traffic by providing “unimpeded” traffic flow for goods and people.
“From the 64 kilometers (kms) we started with, we today operate 230 kms of toll roads in the Philippines and another 174 kms internationally, which serve 900,000 vehicles daily,” MPIC’s Mr. Lim said.
MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc.
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