Economy

P12.1B allotted for MPT South projects this year

BW FILE PHOTO

MPT South Corp. said it is spending P12.1 billion this year on its C-5 Southlink Expressway, Manila-Cavite Expressway (CAVITEX) Segment 4 Extension, and Cavite-Laguna Expressway (CALAX) projects.

MPT South’s capital expenditures for 2021 are broken down as follows: “P5.34 billion for C5 Southlink, P0.27 billion for CAVITEX Segment 4 Extension, and P6.49 billion for CALAX,” MPT South Corp. President and General Manager Roberto V. Bontia said in an e-mailed statement on Monday.

Mr. Bontia said on Friday last week that the CALAX Subsection 5 that is targeted to be opened in the third quarter of the year is now 95% complete.

The CALAX Subsection 5 links Sta. Rosa-Tagaytay Interchange to Silang East Interchange. It is part of the 45-kilometer CALAX expressway running from Kawit, Cavite to Mamplasan Interchange in Binan, Laguna.

The initial operational CALAX segments connect Mamplasan to Santa Rosa in Laguna.

CALAX, once completed, is expected to serve around 45,000 vehicles daily. The Public Works and Highways department targets to finish works by the end of 2022.

“Just like most businesses, the toll road industry has been affected by the mobility restrictions implemented,” Mr. Bontia said.

“Still, our construction remains in full swing for areas with adequate available ROW (right of way), while strictly adhering to COVID-19 (coronavirus disease 2019) protocols set by the national government,” he added.

MPT South is under the Metro Pacific Investments Corp., one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group. — Arjay L. Balinbin

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