Vehicles using SCTEX soar 162%

MANILA, Philippines - Vehicles using the Subic-Clark-Tarlac Expressway (SCTEX) more than doubled since it started operating two years ago, the Bases Conversion Development Authority (BCDA) said.

Data from the state run agency showed that vehicle traffic soared by 162.2 percent during the first 11 months of this year.

From April 2008, when the road network opened, to December 2008, total traffic volume at SCTEX was only at 2.29 million vehicles. But for the first 11 months this year, traffic volume increased to 6.12 million vehicles.

“Once people have experienced the convenience and reduction in travel time, they will keep on using it. So this awareness has resulted in more usage of the SCTEX,” BCDA vice president Aileen Zosa said.

Likewise, cash revenues generated by SCTEX more than doubled from P166.6 million in 2008 to P429.59 million in 2009.

The six bidders of SCTEX are Metro Pacific Tollways Corp., STAR Tollways Corp., Alvin B. Bugtas representing the Citra Group, San Miguel Corp., Amicus Holdings Inc. and IL&FS Transportation Networks Ltd.

Last November, BCDA opened the SCTEX data room at the Bonifacio Technology Center in Taguig City, following the bidders’ request that they be provided all the information needed to come up with an accurate and realistic offer.

Five out of six bidders have visited the place and gathered such relevant data as the actual traffic volume and revenue, traffic study and operations manual. A separate data room – for engineering plans, drawings and technical specifications – is also available at the BCDA construction and engineering project management office in Clark.

Under the SCTEX privatization program, the winning bidder will enter into a lease or concession agreement with BCDA to manage, operate and maintain the SCTEX on “as is, where is,” basis for a period of 33 and a half years until 2043.

The winning bidder will be responsible for the operational funding requirements in running the country’s longest tollway, including periodic maintenance and emergency works, which will be covered by a performance security. 

The private sector partner will also arrange for the insurance of the toll road. 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.