Philippines Expressway PPP to reach financial close next month
The President of MPCALA Holdings, Inc., a unit of Metro Pacific Investments Corp., has stated publicly that the Cavite-Laguna Expressway (CALAX) will close PHP25.3 billion (US$475.5 million) financing next month. Financial close of the project, awarded to MPCALA Holdings in June 2015, was scheduled for July 2018.
Construction of the Laguna side of the expressway, having already begun, is being funded by equity. The President disclosed that debt financing was being sourced from six local banks.
The expressway is expected to open in 2020. The tolled four-lane road will connect the South Luzon Expressway (SLEx)-Mamplasan interchange to the Cavite Expressway (CAVITEx), traversing the Cavite and Luguna provinces of the Calabarzon region of the Philippines' Luzon island.
Country updates
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July 30, 2018
Unsolicited proposal for US$420 million expressway project in the Philippines approved
The Government of the Philippines' Department of Public Works and Highways (DPWH) has granted Metro Pacific Investments Corp. original proponent status (OPS) for the Cavite-Batangas-Tagaytay...
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July 30, 2018
The Department of Transportation has approved the Cavite provincial government’s plan to build an airport at Sangley Point
The Department of Transportation has approved the Cavite provincial government’s plan to build an airport at Sangley Point. The Transportation Secretary has reportedly stated that this government-prop...
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July 22, 2018
Chelsea and Aboitiz submit a new unsolicited proposal for the development of Visayas and Mindanao airports
The Philippines' Department of Transportation has announced that Chelsea Logistics Holdings Corp. and the Aboitiz Group have submitted new unsolicited proposals to develop and maintain N...
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July 15, 2018
Century Peak concludes negotiations on unsolicited proposal for PPP project in Cavite
Century Peak Metals Holdings Corp has disclosed that its subsidiary Century Peak Corp. (CPC) has concluded detailed negotiations with the government of Cavite regarding the company's unsolici...
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July 07, 2018
Expressway PPP in the Philippines enters construction phase
Construction of the Cebu-Cordova Link Expressway (CCCLEX) has commenced, following an official ceremony. The 8km expressway will function as the third bridge between Cebu City and Mactan Isl...
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