Manila Standard Today, 21 January 2014
By Lailany P. Gomez
State-run Philippine National Construction Corp. and Metro Pacific Tollways Development Corp. will sign a joint venture agreement today over the construction of a road that will connect the North Luzon Expressway and South Luzon Expressway.
Metro Pacific Investments Corp., parent of Metro Pacific Tollways, proposed to construct the 13-kilometer connector road for P22.95 billion.
Under the governmentâ€™s proposal, the Segment 10 phase of the project will be redefined to cover the NLEX-SLEX Connector Road.
MPIC is the majority owner of Manila North Tollways Corp., which operates NLEX. Other MNTC shareholders are Egis Projects S.A. of France, Leighton Asia Ltd. of Australia and PNCC, which holds the franchise to run the expressway.
The Transportation, Public Works, Finance and Justice departments have agreed to extend the concession agreement between PNCC and MPIC to the connector road project through the creation of a new joint venture to speed up constuction.
MPIC, however, has proposed to merely incorporate the connector road project to the existing contract between PNCC and MPIC to make the toll lower.
The supplemental toll operations agreement covers the construction of Segment 10, a 5.65-kilometer road that starts where Segment 9 ends on MacArthur Highway and stretches all the way to Circumferential Road 3. Segment 9 is a 2.4-kilometer portion linking NLEX to MacArthur Highway.
Without the amendment to the supplemental toll operations agreement, government rules require that a Swiss challenge must be undertaken since the NLEX-SLEX connector road project was an unsolicited proposal.
The Philippine Star, 21 January 2014
By Lawrence Agcaoili
MANILA, Philippines – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) and state-run Philippine National Construction Corp. (PNCC) will sign a joint venture agreement today for the construction of a P23-billion toll road that would connect the North and South Luzon expressways.
The NLEX-SLEX Connector Road Project would be implemented by the joint venture partners through Manila North Tollways Corp. (MNTC), which operates NLEX.
Under their joint venture, PNCC will get a 2.5-percent equity in the new project and a six percent share in gross revenues.
MPIC chairman Manuel V. Pangilinan earlier said the company was willing to tie up with PNCC Â to start the construction of the NLEX-SLEX connector road project.
â€śIf thatâ€™s the governmentâ€™s desire, we will follow. Weâ€™re prepared to enter into some joint venture framework with PNCC so we could begin construction and complete the connector. We have no problem with that,â€ť Pangilinan earlier said.
Transportation and Communications Secretary Joseph Emilio Abaya earlier said he sees no legal challenges for the planned expressway as the project would be undertaken through a joint venture between MPTC and PNCC.
Abaya said the DOTC, Department of Public Works and Highways (DPWH), the Department of Finance (DOF), and the Department of Justice (DOJ) agreed to expand the supplemental toll operations agreement (STOA) between PNCC and MPTC to cover the connector road project.
The DOTC wants the construction of the connector roads to start early next year so that this infrastructure would be completed in time for the Leaders Meeting of the Asia Pacific Economic Cooperation (APEC) which the Philippines would be hosting in 2015.
As early as April, officials of the Department of Public Works and Highways (DPWH) said the unsolicited proposal of MPTC for the P23-billion road that would connect the North and South Luzon expressways would be subjected to a Swiss challenge.
Both MPTC and Citra Metro Manila Tollways Corp. of diversified conglomerate San Miguel Corp. (SMC) should have a common area spanning five kilometers from Quirino in Manila up to Nagtahan in Sta. Mesa in Manila crossing the Pasig river.
ABS-CBN News, 20 January 2014
MANILA, Philippines – Metro Pacific Investments Corp. and
the state-run Philippine National Construction Corp. (PNCC) are set to ink a joint venture agreement for the toll road connecting the North and South Luzon expressways on Tuesday.
The agreement between Metro Pacific Tollways Development Corp. (MPTDC) and PNCC will pave the way for the construction of the P23 billion NLEX-SLEX connector road, to be implemented by Manila North Tollways Corporation (MNTC).
The PNCC will get a 2.5 percent equity and a 6 percent share in gross revenues under the agreement.
The Department of Transportation and Communication (DOTC) wants construction to begin early 2014 so that the NLEX-SLEX Connector Road will be completed in time for the Leaders Meeting of the Asia Pacific Economic Cooperation (APEC) in 2015.
InterAksyon, 20 January 2014
By Darwin G. Amojelar
MANILA – Metro Pacific Tollways Development Corp (MPTDC) and state-run Philippine National Construction Corp (PNCC) will sign a joint venture agreement onÂ Tuesday for the construction of a road connecting the North Luzon Expressway (NLEX) to the South Luzon Expressway (SLEX).
Rodrigo Franco, MNTC president, said in a text message the NLEX-SLEX Connector Road Project would be implemented by the joint venture partners through Manila North Tollways Corp (MNTC), which operates NLEX.
Under their joint venture, PNCC will get a six percent share in gross revenues and will maintain its 2.5 percent equity in the project.
MPTDC owns 71 percent of MNTC, while France’s EGIS Projects SA Â has 10 percent. The SM group owns the remaining sharesÂ after buying out Australia’s Leighton Asia Ltd in 2009.
A key shareholder of MNTC, MPTDC had submitted an investment proposal for theÂ P22.95 billion NLEX-SLEX Connector Road Project to the Toll Regulatory Board (TRB), which has yet to approve the project.
Since the proposal is unsolicited, government rules require that the offer be subject to a Swiss challenge. To go around thisÂ requirement, MPTDC and PNCC amended the scope of an existing Supplemental Toll Operations Agreement (STOA) to include theÂ NLEX-SLEX Connector Road.
The STOA covers the construction of Segment 10, a 5.65-kilometer road that starts where Segment 9 ends on MacArthur HighwayÂ and stretches all the way to C3 Road. Segment 9 is a 2.4-kilometer portion linking the NLEX to MacArthur Highway.
PNCC is the holder of the NLEX franchise, which MNTC manages on behalf of the government.
The project is expected to be completed on June 2016, or before the end of the term of President Benigno S. Aquino III.
InterAksyon.com is the online news portal of TV5, which like MPTDC is a member of the MVP Group.
Business Mirror, 19 January 2014
By Lenie Lectura
METRO Pacific Tollways Corp. (MPTC) and Philippine National Construction Co. (PNCC) will sign an agreementÂ on TuesdayÂ to formally seal their partnership for a road project that will link the north and south portions of Metro Manila.
MPTC President Ramoncito Fernandez said in a text message that a signing ceremony for the joint-venture agreement will take place.
He, however, pointed out that the Toll Regulatory Board has yet to issue an amended supplemental toll agreement. â€śThat is the next step,â€ť Fernandez said.
MPTC, the toll road unit of Metro Pacific Investments Corp. (MPIC), submitted an unsolicited proposal to construct a 13.2-kilometer, four-lane elevated expressway that will link North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX) through a connector road. Since the proposal was unsolicited, it was supposed to undergo a Swiss challenge, which means the government would have to entertain other proposals from interested parties and conduct a bidding.
However, the government decided that MPTC and PNCC,Â which owns the franchise for both the NLEX and SLEX,Â form a joint venture instead, saying it will be faster to implement the project with less legal implications.