MPTC, SMC officially ink deal to build CBEX and NBEX
1,157 total views, 3 views today
Metro Pacific Tollways Corporation (“MPTC”), the tollways infrastructure unit of Metro Pacific Investments Corporation and San Miguel Corporation (“SMC”) today announced the signing of a Memorandum of Agreement (“MOA”) to design, build and operate the 87.96-kilometer Cavite-Batangas Expressway (“CBEX”) and Nasugbu-Bauan Expressway (“NBEX”). The project aims to connect MPTC’s Cavite-Laguna Expressway (“CALAX”) to Bauan, Batangas, making travel easier and more convenient for motorists.
The signing ceremony, led by MPTC Chairman Manuel V. Pangilinan and SMC Chief Executive Officer Ramon S. Ang, along with Chaye Cabal Revilla and SMC SVP, Infrastructure Business Head Lorenzo Formoso III, marks a significant milestone in the development of the P72 billion CBEX and NBEX project.
The MOA signing underscores the commitment of both toll road companies to deliver world-class expressways that will serve the needs of millions of motorists and commuters in the CALABARZON region. Throughout the project, MPTC and SMC will work closely with the Philippine government, local communities, and stakeholders to ensure a sustainable and responsible development that aligns with the country’s infrastructure goals.
“Our shared commitment to nation-building has led us to this historic collaboration. Together, we aim to deliver world-class road networks that will serve as arteries of progress, growth and development for our country and the Filipino people. This collaboration stands as a testament to what we can achieve when we are united in purpose,” SMC President and CEO Ramon S. Ang said.
“Together with SMC, we envisage a future where our CBEX and NBEX can help pave the way for connectivity and economic growth in the CALABARZON region. We look forward to leveraging on our respective strengths for the realization of this vital infrastructure project.” said MPTC Chairman Manuel V. Pangilinan.
Under the agreement, MPTC and SMC will jointly undertake the construction, operation and maintenance of the 88-kilometer-long toll road projects. This will encompass two vital expressways: one is the 27.06-kilometer CBEX that will establish a crucial link connecting CALAX’ Silang (Aguinaldo) Interchange to Nasugbu, Batangas, while the 60.90-kilometer NBEX will provide seamless connectivity from Nasugbu to Bauan, Batangas. The groundbreaking is scheduled for 2024 and CBEX and NBEX are expected to be completed and open to the public in 2027.
The route will traverse the townships of Silang, Amadeo, Tagaytay, Indang, Mendez, and Alfonso in Cavite before crossing into Nasugbu and finally reaching Bauan, Batangas.
In 2018, MPTC presented a proposal for the 50.4-kilometer Cavite-Tagaytay-Batangas Expressway (CTBEX) project to the Department of Public Works and Highways and was granted the original proponent status. Similarly, SMC’s unsolicited proposal for the CBEX and NBEX was approved by the Cavite and Batangas government. Both projects share the common goal of connecting the provinces of Cavite and Batangas through Tagaytay City and MPTC and SMC have come together as partners in this significant venture.
Both MPTC and SMC share a common goal of contributing to the development of road infrastructure and enhancing the transportation sector in the country. Aside from CALAX, MPTC currently holds the concession for several vital expressways, including the Manila-Cavite Expressway (CAVITEX), its C5 Link Segment, the North Luzon Expressway (NLEX), the Subic-Clark Tarlac Expressway (SCTEX), the NLEX Connector Road, and the Cebu-Cordova Link Expressway (CCLEX) in Cebu. Whilst SMC holds the concession for crucial toll roads such as the South Luzon Expressway (SLEX), Skyway, NAIA Expressway (NAIAX), Star Tollway, Tarlac-Pangasinan-La Union Expressway (TPLEX), and the Muntinlupa-Cavite Expressway (MCX).
The implementation of the transaction is subject to completion of certain conditions, including the execution procurement relevant approvals and execution of definitive agreements.