The infrastructure unit of Metro Pacific Investment Corp. has tripled its capital expenditure in 2020 from P20 billion last year to partly finance the construction of five major infrastructure projects worth P99.4 billion.
Christopher Lizo, chief financial officer of Metro Pacific Tollways Corp. (MPTC), said the higher capex will be used fund the P25-billion Cebu Cordova bridge project, the P35.43- billion Cavite Laguna expressway (Calax), the P10-billion C5 South link project, the P23-billion NLEX connector road and the P6- billion NLEX Harbor link R10.
Lizo said the Department of Public Works and Highway (DPWH) has delivered 100 percent right-of-way (ROW) for the Cebu-Cordova project; 80 percent ROW on C5 Southlink project; around 70 percent in the Connector road project and’ the 100-percent ROW for Calax project by June this year.
He said the capex is fully funded already and the equity portion comes from parent MPIC.
These projects will be funded through 70 percent debts and 30 percent equity.
MPTC operates the North Luzon Expressway, Subic-Clark Tarlac Expressway and Manila Cavite Expressway.
