SMC, 5 others eye SCTEX management

MANILA, Philippines - Diversifying conglomerate San Miguel Corp. (SMC) and five other firms have expressed interest in managing, operating and maintaining the Subic-Clark-Tarlac Expressway (SCTEX), the Bases Conversion and Development Authority (BCDA) said yesterday.

BCDA vice president for finance and chairperson of the asset disposition program committee, Victor Zablan said the tollway operators who purchased the Terms of Reference (TOR) for the selection of the BCDA’s private partner for the privatization of the SCTEX were: Metro Pacific Tollways Development Corp., STAR Tollways Corp., Citra Group, San Miguel Corp., Amicus Holdings Inc., and IL&FS Transportation Networks Ltd.

He added that all six firms attended the pre-bid conference held last Nov. 10 at the BCDA corporate center in Bonifacio Global City.

Zablan said the lease/concession agreement for the privatization of the SCTEX will be for a period of 33-and a half years or from April 28, 2010 to Oct. 30, 2043.

Based on the TOR, the winning private sector partner will bear the operational funding requirements for the management, operations and maintenance of the SCTEX, including periodic maintenance works, special/major/emergency works and all other additional works, and insurance.

Also, the private sector partner will provide management services, toll collection, traffic safety and security management, toll road maintenance including greenery and landscaping, and other related services.

BCDA will receive a semi-annual lease/concession fee from the winning bidder, amounting to either: the peso equivalent of yen-dominated JBIC/JICA loan debt servicing as well as all financing charges payable to BCDA 10 days prior to its due dates secured by a rolling five-year letter of credit; or 20 percent of audited gross revenues whichever is higher.

He said the deadline for the submission of proposals and eligibility documents has been set on Dec. 4 and the notice to proceed to the winning private sector partner will be given on January 2010.

The SCTEX is a 94.7-km four-lane divided toll road expressway traversing three provinces in Central Luzon, namely: Bataan, Pampanga and Tarlac. It provides a direct link among Subic Bay Freeport Zone, Clark Freeport Zone and Tarlac City.

The expressway allows Clark and Subic to forge a growing partnership by building on each other’s core strengths. More importantly, it has pave the way for the synergy of the two economic zones into one big facility resulting in the convergence of land, air, and sea-based transport.

Travel time from Clark to Subic has been reduced to a mere 40 minutes. From Clark to Tarlac, travel time is now only 25 minutes.