Wednesday 17 January
Powered by Ajaxy
Apr 16, 2016 @ 11:48

MPIC signs toll road venture with Cebu LGUs

 

Cebu City infrastructure giant Metro Pacific Investments Corp. (MPIC) signed Friday the joint-venture agreement with the local government of Cebu for the country’s first standalone toll bridge, signaling it was still willing to invest even as its toll road business faced fresh regulatory challenges.

The agreement, signed with the government leaders from the city of Cebu and the municipality of Cordova, marks a step forward toward the construction of an 8.25-kilometer, Cebu-Cordova bridge project, which Metro Pacific hopes to finish by 2020.

The P27.9-billion bridge will provide a third link between mainland Cebu and Mactan Island, where its international airport is located, cutting travel time by about 40 minutes.

Tags: , , ,

Related Stories
Grappling with higher costs and fierce competition, telecommunications giant PLDT Inc. suffered a 21 percent
Metro Pacific Tollways Corp. is planning to tap the debt market to raise about P30
The tollway unit of bilyonaryo Manuel V. Pangilinan-led Metro Pacific Investments Corp
Global Business Power Corp. (GBPC) is investing $1.7 billion in power projects in Luzon and


Read full Article here »

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - bilyonaryo.com.ph.