Metro Pacific Tollways to spread wings in ASEAN
A unit of infrastructure conglomerate Metro Pacific Investments Corp. wants to seize opportunities for infrastructure projects in the ASEAN region for faster growth.
Metro Pacific Tollways Corp. has approved a plan to form a five member committee to study potential toll road and other infrastructure investments in the Philippines and the ASEAN region.
To support its expansion, MPTC is seeking a credit line or stand by letter of credit of up to P8 billion from any local or financial institution.
MPTC is eyeing toll road investments in Malaysia and Indonesia.
The company holds a 29.45 percent stake in Don Muang Tollway Public Co. Limited, a major toll road operator in Bangkok, Thailand. The contract, which involves the operation of a 21.9 kilometer six-lane elevated tollway from central Bamgkok to Don Muang International Airport, is effective until 2034.
It also owns a 44.9-percent interest in CII Bridges and Roads, which has various road and bridge projects in and around Ho Chi Minh City.
MPTC’s current portfolio includes 68.1 kilometers of roads used by 47,000 vehicles per day and roads under pre- or on-going construction covering a total of 53 kilometers.