METRO Pacific Tollways Corp. (MPTC) is considering an expansion of the Cebu–Cordova Link Expressway (CCLEX) that will connect to major city roads in Metro Cebu, the company’s president said.
“We are looking at Cebu not as a new [project] but as an extension of CCLEX. We need a connection to the city road. On the other side — because what we only did was the bridge — there is no connection to the airport [and] to local roads. We need to connect to local roads,” Rogelio L. Singson, president and chief executive officer of MPTC, told reporters on the sidelines of a forum.
The 8.9-kilometer CCLEX connects Mactan Island through Cordova town to the mainland of Cebu through south road properties.
“We’re just finalizing it with the DPWH (Department of Public Works and Highways) to get the alignment,” Mr. Singson said.
The company is also considering a joint venture to pursue the plan and other arrangements, Mr. Singson said.
“For now, [there is no project cost yet] because it will depend on the alignment as some portions are most likely viaducts and right of ways will run through waterways,” he added.
In November, the company said it would postpone its initial public offering plan to 2025 as MPTC weighs its options amid a plan to form a joint venture company with San Miguel Corp.
With this development, MPTC is looking to tap local and foreign banks as it seeks to raise fresh funds after putting its planned market listing on hold.
MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
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