MNTC eyes completion of P10-B tollroad in time for APEC in 2015

MANILA, Philippines - Manila North Tollways Corp. (MNTC), the tollways arm of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) of businessman Manuel V. Pangilinan, is looking at completing the P10-billion Harbor Link project in time for the country’s hosting of the 23rd Asia Pacific Economic Cooperation (APEC) summit in 2015.

MNTC president and chief executive officer Rodrigo Franco said during the ground breaking ceremonies of the Harbor Link project of the North Luzon Expressway (NLEX) that the toll road would be completed in 24 months.

Franco said the P1.7-billion segment 9 involving a 2.4-kilometer stretch from Valenzuela City to MacArthur highway is expected to be completed in 12 months while the P8 billion segment 10 covering 5.65 kilometers from MacArthur highway all the way to circumferential road 3 (C3) in Port Area would be completed within 24 months.

The Philippines is expected to host the APEC Summit in November 2015 after China in 2014. The country last hosted the APEC Summit in November of 1996.

He pointed out that the project intends to spur greater development in the Caloocan, Malabon, Navotas, and Valenzuela (Camanava) area, increase land values, and generate about 10,000 jobs.

He added that the project also hopes to improve transport logistics with more efficient movement of trucks in and out of the Harbor area as well as stimulate commerce between Harbor area and central and north Luzon.

The company expects a traffic volume of 30,000 vehicles per day at the segment 9 as well as 30,000 vehicles per day at the segment 10.

Furthermore, Franco said the project would decongest Metro Manila as well as improve the movement of cargo as trucks would have a 24/7 trips because there is no truck ban in NLEX.

He explained that the project would also shorten the travel distance through the establishment of direct routes between central and north Luzon as well as the Camanava area.

According to him, the company intends to borrow about 70 percent of the total project cost through domestic borrowings either in the later part of 2012 or early next year.

Metro Pacific Tollways Corp. president and chief executive officer Ramon Fernandez said the company strongly and firmly supports the Aquino administration’s PPP program.

Fernandez said the company intends to speed up traffic flow in the high-density Port Area as well as the Camanava sector of the metropolis.

“It (NLEX North Harbor Link) is a very good alternative to C-3 road and A. Bonifacio Ave.,” he stressed.

According to him, motorists especially truckers and haulers would considerably benefit from the project in terms of speed and reduced vehicle operating costs in moving people and merchandise to and from the Harbor area.