THE operator of the Manila-Cavite Expressway (Cavitex) is targeting to generate P3 billion in revenues in 2020.
“We are targeting P3 billion next year. [Because of] CALAX (Cavite-Laguna Expressway project), then the full year of operations of C-5 (Circumferential Road 5 South Link), and then we are hoping to get our toll fee increase, yung 2011-2014 namin na [petition] naka-pending pa sa TRB (Toll Regulatory Board), by next year,” Roberto V. Bontia, president of Cavitex Infrastructure Corp. (CIC), told reporters on Dec. 2.
Mr. Bontia said the company is confident that it will hit its P2.2-billion revenue target for this year.
“Siguro we will be ending the year with close to 175,000 vehicles a day. Last year 149,000 or 150,000 [vehicles a day],” he said.
Cavitex has also benefitted from the traffic problem along the South Luzon Expressway (SLEx) due to the ongoing construction of the Skyway Extension.
“In fact, in November, we were averaging 190,000 vehicles a day, and that’s coming from a year-to-date of 175,000,” Mr. Bontia noted.
“Traditionally, December is a peak season but we were actually a beneficiary of the SLEx problem. We saw an uptick in Kawit (Cavite) and R-1 (Expressway) nuong nag-umpisa ‘yung problema doon. In fact, we’ve seen 4% to 5% increase in traffic because of the SLEx problem,” he added.
CIC, which is part of Metro Pacific Investments Corp. (MPIC), is the private concessionaire for the Cavitex project.
MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — A. L. Balinbin