The Metro Pacific Tollways Corp. is exploring opportunities for partnerships with foreign strategic investors to secure additional funding for the Cebu – Cordova Link Expressway (CCLEX) and boost the project’s commercial viability.
“We’re doing everything to make it viable. We are looking for a strategic investor whose participation will all go to project expansion,” Rogelio Singson, MPTC president and chief executive, said.
Singson said CCLEX services some 17,000 users daily, lower than the 60,000 vehicle traffic projection.
He said the company is selling 45 percent equity in the Cebu Cordova Link Expressway Corporation (CCLEC) and the proceeds will finance the toll road expansion.
“We are in talks with a foreign company,’ Singson added.
The MPTC executive said the company needs at least P7 billion to expand the 8.9-kilometer toll bridge to city roads, including Bacalso Avenue and Lapu-Lapu City.
“We’ve been in talks with LGUs. Luckily, it’s an LGU concession. So, hopefully, it will be easier,” Singson said.
The P27.10 billion CCLEX, which starts commercial operation in April 2022, is the first expressway in southern Philippines. It connects Mactan Island through Cordova town to mainland Cebu through the South Road Properties.
Also, MPTC is spending P6.3 billion to construct the Cavitex-Calax Link Project and the Cavitex C5 Link Segment 3B Project.
The P4.1 Cavitex-Calax Link will span over 1.3 kilometers linking the Cavitex and the still under construction Cavite-Laguna Expressway.
The P2.2 billion Cavitex C5 Link Segment 3B spans over 2 kilometers that will connect Cavitex Paranaque in the West and C5 Road Taguig in the East.
Aside from CCLEX, the MPTC also holds concession rights over the North Luzon Expressway (NLEX), NLEX Connector Road, Subic -Clark Expressway (SCTEX),Manila Cavite Expressway, Cavite Laguna Expressway, and toll road projects in Indonesia.
