METRO Pacific Tollways Corp. (MPTC) said its subsidiary MPCALA Holdings, Inc. had paid in advance the second tranche of the concession fees for the Cavite-Laguna Expressway (CALAX).
In a statement e-mailed to reporters on Monday, MPTC said MPCALA paid the Department of Public Works and Highways (DPWH) P4.368 billion, ahead of the July 10 due date.
“The payment is the second of six tranches amounting to P27.3 billion in total concession fees under the 35-year CALAX concession,” MPTC said.
The tollways group paid the first tranche of P5.460 billion in July 2015.
MPTC Chairman Manuel V. Pangilinan said: “It is our privilege to be the government’s private sector partner in this project of national significance. And despite this COVID-19 pandemic, our work continues to serve our communities, and our people.”
The group also paid in advance on May 1 its tax dues valued at P 1.03 billion.
“This payment will help enable the national government to fund development projects, high-priority resource management programs, operations, and concession-support activities,” DPWH Secretary Mark A. Villar was quoted as saying in the statement.
The whole CALAX project covers 45.3 kilometers of expressway linking the Manila-Cavite Expressway (CAVITEx) from Kawit, Cavite to the South Luzon Expressway (SLEx) at the Mamplasan Interchange in Biñan, Laguna.
MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin
