MPCALA Holdings, Inc. anticipates it will secure the original proponent status from the Department of Public Works and Highways (DPWH) for its Cavite-Tagaytay-Batangas Expressway (CTBEx) project by next month.
“As far as we are concerned, [we have completed the] required documents that they needed, the required information. So it’s really up to the DPWH,” MPCALA Holdings President Luigi L. Bautista told reporters Monday.
MPCALA Holdings submitted to DPWH in July 2017 an unsolicited proposal to build a 49-kilometer toll road connecting the Cavite-Laguna Expressway (CALAX) at Silang East Interchange to Tagaytay City and Nasugbu, Batangas.
DPWH initially targeted to release the results of its evaluation of CTBEx in November 2017.
Mr. Bautista said the project cost remains P22.43 billion.
Upon securing the original proponent status from DPWH, it would be submitted to the National Economic and Development Authority (NEDA) for review. Once NEDA approves the project, it will be subjected to a Swiss challenge.
Under a Swiss challenge, other companies are invited to make competing offers, while giving the original proponent the right to match them.
The construction of CTBEx is originally scheduled to begin by mid-2019 and completed by mid-2020.
MPCALA Holdings, which is part of Metro Pacific Investments Corp. (MPIC), is the private concessionaire for the CALAX 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. — Denise A. Valdez