Cavitex allots P8.8-B for C-5 link project
By Lawrence Agcaoili (The Philippine Star) | Updated April 10, 2014 - 12:00am
MANILA, Philippines - Cavitex Infrastructure Corp. (CIC), a unit of infrastructure giant Metro Pacific Investments Corp. (CIC), is spending P8.8 billion for two major road projects further expanding the 14-kilometer Manila Cavite expressway (Cavitex).
CIC president and chief executive officer Jose Luigi Bautista said the Department of Public Works and Highways (DPWH) has already approved the alignment of its proposed P8 billion Circumferential-5 (C5) link project.
Bautista said the seven-kilometer road would start from C5 and cross through the South Luzon Expressway (SLEX) and pass through the Better Living Subdivision beside the Ninoy Aquino International Airport (NAIA).
He added that the proposed expressway would end at the Cavitex headquarters at the Road 1 portion of Cavite where the toll plazas are situated.
He pointed out that Cavitex would now seek the approval of the Toll Regulatory Board (TRB) for the project.
“The alignment has already been approved by DPWH and we are set to go to TRB to present our plans and it depends how quick they will approve it,” he added.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
According to him, the detailed engineering and design for the project would start in the third quarter of the year and ground work would start early next year.
On the other hand, Bautista said CIC would also spend another P800 million for the construction of the initial stage of Segment 5 from Kawit to Noveleta in Cavite .
He explained that the initial stage of the road project involves a 720 meter stretch that would like Cavitex to the proposed P35.4 billion Cavite-Laguna expressway (Calax).
“We will start first with a small segment that will connect seamlessly to the Calax. What we are delaying is the remaining part but the initial stage of about 720 meters will be constructed in conjuction with Calax,” he said.
Bidding for the 47-kilometer closed-system tolled expressway has been postponed to May 21 instead of April 21 to give Ayala-led Team “Orion”, MPIC’s MPCALA Holdings Inc., Optimal Infrastructure Development Inc. of diversified conglomerate San Miguel Corp. (SMC), and Malaysia’s Alloy MTD Philippines more time to prepare their documents.
Bautista explained that CIC has decided to put on hold the final stage of the proposed Kawit to Noveleta segment otherwise known as Segment 5 due to changes in the alignment of the project.
He said both projects are being funded through a combination of bank loans and equity contributions from existing shareholders of CIC.
The Cavitex feeds into and from Roxas Boulevard in the city of Parañaque in Metro Manila in the north and connects to Tirona Highway along the north coast in Kawit, Cavite in the south.
MPIC through Metro Pacific Tollways Corp. (MPTC) invested P6.77 billion under a financing and cooperation agreement with Cavitex Holdings Inc. in December 2012.