MVP Group to obtain P18B loans to fund Cavite-Laguna Expressway
A unit of Metro Pacific Tollways Corp. is close to signing an P18 billion term loan facility with lenders, raising funds for the construction of the Cavite-Laguna expressway project (CALAX).
“Were hoping to close by June or July,” said MPTC president Rodrigo Franco.
MPCala Holdings earlier tapped Leighton Holdings of Australia to build the Cavite side, while local contractor DMCI Consunji Inc. will construct the Laguna side.
The P34.5 billion CALAX is a 44.6 kilometer, fourmlane tollroad between the Cavite Expressway in Kawit, Cavite and the South Luzon Expressway-Mamplasan Interchange.
MPCALA will operate and maintain CALAX for 35 years.
Construction is targeted to be completed by 2020, while operations and maintenance are set from 2020 to 2050.