MPT South allocates nearly P12B to fund projects’ construction
EXPRESSWAY operator MPT South Corp. is setting aside P11.95 billion for its capital expenditure (capex) budget for the next two years.
The unit of Metro Pacific Tollways Corp. said the majority of the capex will fund the ongoing construction of existing projects such as the C5 Southlink and the 45.4-kilometer Cavite-Laguna Expressway (Calax).
Most of the capex for 2024 to 2025 will be allocated for Calax at P8.17 billion. About P1.09 billion is set aside for the Cavitex-CC Link; while P2.56 billion is allocated for the Cavitex-C-5 Link, which is a 7.7-kilometer project that will connect Cavitex R1 to C5 road in Taguig.
About P134 million is for the Cavitex R-1 and R1 extension, which stretches from Manila and connects Roxas Blvd. to Cavite.
For 2023, the company allocated about P8 billion for MPT Calax and around P5 billion for its C5 project, Elnora D. Rumawak, vice-president for finance of MPT South, said in a briefing last week.
C is the tollways unit of Metro Pacific Investments Corp., which is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
