Cavitex Infrastructure Corp. (CIC), the concessionaire of the Manila-Cavite expressway (Cavitex), and the Philippine Reclamation Authority yesterday signed an P8.8-billion contract to begin construction of two new segments of the Cavitex-C5 link expressway.
CIC, a unit of Metro Pacific Tollways Corp. (MPTC), signed the contract with the consortium of A.M. Oreta & Company Inc. and China Harbour Engineering Company Ltd. for the construction of Segment 2 and Segment 3A-2.
DCCD Engineering Corp., KE Asia Inc. and Ove Arup and Partners Hongkong LTD (Philippine branch) were tapped as project consultants.
Cavitex-C5 link expressway is a 7.70-kilometer dual three-lane expressway that runs from R-1 Parañaque Toll Plaza to C-5 Road in Taguig. It has four segments. The first segment, 3A-1, from Merville to C-5 Road was already operational last year.
The company also holds the ground breaking today for the Segment 2 from R-1 expressway to Sucat Interchange, a 1.9-km. 2×3 lane main expressway worth P7 billion, and the Segment 3A-2 from Merville to RSG Subdivision in Parañaque, a 1.6-km. expressway worth P1.8 billion.
Christopher Lizo, MPTC chief financial officer, said in a virtual press briefing the company has enough funds to finance the construction of the C5 link project.
“We actually have facility for this, we already have P12 billion from BDO. We have partially drawn on the facility to finance (Segment) 3A-1 and we will draw as needed as construction progresses,” Lizo said.
Segments 2 and 3A-2 are eyed for completion by the second quarter of 2022. Once finished, these will reduce travel time to Makati and Taguig cities from Parañaque City, Las Piñas City and Cavite province by 30 minutes and help spur economic development.
“These projects will decongest EDSA and Sales Road in Pasay City by about 50,000 vehicles per day, and connect major business districts in Taguig and Makati to Parañaque, Las Pinas, and Cavite,” said Mark Villar, Department of Public Works and Highways secretary.
“Continuing with BBB (Build, Build, Build) activities will help spur economic growth to get us back on track from the effects of the pandemic,” Villar added.
