Business

Awash with cash: MVP has P45B to bankroll Salim-Metro Pacific’s P37B toll projects

Bilyonaryo Manny V. Pangilinan has the arsenal to undertake Metro Pacific Tollways Corp.’s (MPTC) slew of infrastructure projects in 2020 even without going to the debt market.

Bilyonaryo Manny V. Pangilinan has the arsenal to undertake Metro Pacific Tollways Corp.’s (MPTC) slew of infrastructure projects in 2020 even without going to the debt market.

As of May 2020, MPTC has a total of P11 billion in cash which is on top of the P34 billion held by its parent, Salim group of Indonesia’s Metro Pacific Investments. This is more than enough to cover MPTC’s 2020 capex of P36.6 billion.

Pangilinan currently has five road projects on his plate:
* seven-kilometer Cavite Expressway segment 4 extension from Zapote to Kawit;
* North Luzon Expressway (NLEX) Citi Link
* Cebu Cordova Link Expressway targeted for completion in 2021;
* 22-kilometer NLEX-South Luzon Expressway connector road rom Bocaue interchange to the intermodal terminal in Tala; and
* 45-kilometer Cavite-Laguna Expressway (CALAX) slated for completion in 2023.

MPTC has likewise kicked off the 7.7-kilometer CAVITEX C5 link expressway project covering Paranaque, Pasay and Taguig. This will complete the missing southern section of C5 road which will lead to a seamless access from Metro Manila to CAVITEX and CALAX.

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