PNCC washes hands on tollway service stations
The Philippine National Construction Corp. (PNCC) said yesterday that it has endorsed a shortlist of nine service facility applications to the Toll Regulatory Board (TRB) which is still awaiting the legal opinion of the Office of the Government Corporate Counsel (OGCC).
PNCC was reacting to reports that it was favoring Petron Corp., Pilipinas Shell
Petroleum Corp., and Caltex Philippines Inc. in the matter of the establishing
service facilities in the north and south expressways.
In a press briefing, PNCC senior vice president Barry Paulino Ibarra said they had endorsed the nine applications as "we believe in its potentials and economic viability."
The nine applications are: Total Petroleum Philippines Corp. (TPPC) for two service facilities; Facilities Inc. (also for two service facilities); PTT/Filinvest Corp.; Mainland Homes Inc.; Hyatt Terminals; Guzom G-Star; and Super Ventures Inc.
"In fact, we are as impatient as the nine applicants," Ibarra said. he explained that all contracts entered into by PNCC before the year 2002 will result in earnings for the company. After that period, the Benpres Inc.-led developers will take over the expressway.
However, he admitted that the PNCC and the TRB could not take any action on the application until the OGCC's opinion is released last July 1999, and the existing memorandum of agreement (MOA) signed between the PNCC and the three major oil players on Dec. 27, 1989.
- Latest
- Trending
