October 16, 2024 | 12:00am
MANILA, Philippines — The tollways arm of Manuel V. Pangilinan’s Metro Pacific Investments Corp. hopes to finalize a deal with Spanish construction firm Acciona within the year to expand the Cebu-Cordova Link Expressway (CCLEx).
Metro Pacific Tollways Corp. (MPTC) president and CEO Rogelio Singson told reporters that the company is in talks with Acciona for a potential investment for the expansion of CCLEx.
“We are hoping they will finalize within the year,” he said.
Earlier, he said the European firm may invest around P5 billion to P10 billion.
“CCLEx alone does not make sense. You need to connect to the city on the side and you need to bring it closer to the airport on the Lapu-Lapu and Cordova side. So whatever they (Acciona) will invest is going to be used to complete those two segments,” he said.
Acciona is part of the Cebu Link Joint Venture, which built and designed the CCLEx.
MPTC is looking for a foreign investor to finance the expansion of the CCLEx to improve its traffic viability.
Despite being originally projected to serve 45,000 to 50,000 motorists daily, CCLEx is currently being utilized by just about 17,000 motorists per day.
Singson earlier said the gap is due to the lack of infrastructure that bridges CCLEx to the airport and to the city.
The CCLEx is a public private partnership project being implemented by MPTC subsidiary Cebu Cordova Link Expressway Corp. with the local government units of Cebu City and municipality of Cordova.
Spanning 8.9 kilometers, CCLEx is the first expressway in the southern Philippines.
It connects mainland Cebu through Cebu City’s South Road Properties to Mactan Island through Barangay Pilipog in the municipality of Cordova.
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