Infrastructure developer MTD Capital Bhd expects its South Luzon Expressway (SLEX) to emerge as a major contributor to group revenue in the second-half of this year.
MTD Capital's 80-per cent subsidiary, South Luzon Tollway Corporation (SLTC), has completed Toll Road 1 and 2 of SLEX, spanning 28km from the end of the South Metro Manila Skyway at Alabang in Muntinglupa City to Calamba in Laguna. Meanwhile, work on the 8km SLEX extension or Toll Road 3 from Calamba to the start of the STAR Tollway at Sto Thomas in Batangas, is expected to be completed by month-end (June 2010).
The entire project would cost 11.8 billion Philippine pesos while the expected pay-back period was six years.
SLTC holds a 30-year concession to operate SLEX and its extensions, under a Supplemental Toll Operation Agreement, signed in 2006. Toll Road 1 and 2 were built on an old alignment operated by Philippine National Construction Corporation (PNCC) under a franchise that expired in April 2007.
Cnstruction of Toll Road 1 finished in December 2008 while Toll Road 2 in June 2009 but SLTC was not able to collect toll then because the toll plazas and systems had not been completed.
Money started to flow in only after SLTC took over the operation and maintenance of the rehabilitated and upgraded tollway from PNCC on May 2, 2010 but the collection was still based on the old rates. New rates are expected to take effect on June 30 2010.
Toll Road 3 was a new portion of SLEX and SLTC would collect toll on that stretch after it had been issued the certificate of completion by the government.
On Toll Road 4, he said the project would not start anytime soon. The government will have to make the decision once we submit the relevant documentation.
No comments:
Post a Comment