MANILA, Philippines - Infrastructure giant Metro Pacific Investments Corp. (MPIC) is set to carefully evaluate the offers for operation and maintenance of the Subic-Clark-Tarlac expressway (SCTEX) under the Swiss challenge process being undertaken by the Bases Conversion and Development Authority (BCDA).
MPIC chairman Manuel V. Pangilinan said in an interview that Manila North Tollways Corp. (MNTC) has the right to match any offer submitted by the interested groups to operate and maintain the 94-kilometer tollroad.
“We have the right to match. I think we will just have to wait for the number and look, consider, and assess it carefully,” Pangilinan said.
Although SCTEX plays an important role in MPIC’s toll road business,he stressed the need to carefully study and evaluate the offers made in the price challenge.
“It is important but we don’t want to just pay for any price,” Pangilinan said.
Diversified conglomerate San Miguel Corp. (SMC) and a group represented by the law firm of Aguirre, Abano, Pamfilo, Paras, Pineda, and Agustin have expressed interest in the toll road.
BCDA has given interested companies until Jan. 30 to submit their bids and is set to award the toll road to the winning bidder in March.
Interested companies would have to match the P3.5-billion offer made by MNTC and at the same time share 50 percent of the gross toll revenues with the BCDA.
The winning bidder for the concession valid until 2043 would continue the integration of SCTEX with the 86.7-kilometer North Luzon expressway (NLEX).
Pangilinan said the MPIC Group is pursuing the integration of NLEX and SCTEX.
“We’ve made that proposal many years ago so it is something that we support, the integration of NLEX and SCTEX,” he added.
MNTC president Rodrigo Franco said the company and BCDA is looking at signing the integration agreement for NLEX and SCTEX early next month.
“In fact we are having the signing many integration agreement, it is tentatively scheduled on Feb. 5,” he said.
According to Franco, MNTC is spending around P600 million for the integration program that includes the relocation of the toll plaza, additional tollbooths, and the deployment of the payment system particularly the Easy Trip.
Integration works, Franco said, would commence immediately after the signing of the integration agreement and would be completed within seven months.
He added that MNTC hopes to finish the integration of both NLEX and SCTEX hopefully before the All Saints’ Day this November.