By Myla Iglesias
July 06, 2018 [ malaya.com.ph ]
CEBU
CITY. -- Cebu Cordova Link Expressway Corp. (CCLEC), a subsidiary of
Metro Pacific Tollways Corp. yesterday started the construction works on
the P26.3-billion Cebu-Cordova Link Expressway (CCLEX) project, the
company’s first toll bridge project outside Luzon.
CCLEX is an 8.5-kilometer toll bridge that will connect mainland Cebu and the island of Mactan via Cebu City and the municipality of Cordova therefore easing traffic congestion in Cebu and Mactan.
Construction will take three years, which completion targeted by March 2021. The toll bridge is expected to serve at least 40,000 vehicles daily.
Rodrigo Franco, Metro Pacific Tollways Corp. (MPTC) president and chief operating officer, told reporters the company is raising funds of around P18 billion to P19 billion to finance the project construction.
“It’s a syndicated loan from local banks (of) about P18 billion to P19 billion…(Funding) is on the way, by August we’ll close the financing,” Franco told reporters on the sidelines of the CCLEX construction works ceremony here.
Franco said the company had proposed a toll fee of P89 for the whole stretch of the expressway.
Last December, CCLEC signed a contract with civil works contractor Cebu Link joint venture (CLJV), a consortium of Spain-based Acciona Construction S.A. and Philippine-based First Balfour Inc and D.M. Consunji Inc. The consortium members all have proven track record in the construction of major infrastructure projects.
The contract includes construction of the connections to Cebu City and Cordova, the main bridge structure, viaduct, causeway, roadway and toll facilities.
The project is located around 8.5 kilometers south of the Mandaue Bridge and will take off from the Cebu South Coastal Road crossing the Mactan channel to Mactan Island.
CCLEC also tapped COWI A/S of Denmark and Philippines’ DCCD Engineering Corp. as sub-consultants and technical advisor/owner’s engineer while Norconsult is the independent consultant for the CLLEX.
The toll bridge is the first of MPTC’s envisioned toll road expansion projects in Visayas and Mindanao.,
It will have two lanes each direction and will feature the main twin cable-stayed bridge structure, viaduct and causeway. It will help decongest the existing Mactan-Mandaue and Marcelo Fernan bridges, where traffic at present already builds up in both approaches particularly during peak hours.
“ This is very important to us because… it’s our first expressway project outside Luzon,” Franco added.
CCLEC, a subsidiary company of MPTC which in turn is the toll road arm of Metro Pacific Investments Corp.
CCLEC will build, operate and maintain the toll bridge through a joint venture agreement with the local governments of Cebu City and Cordova Municipality for 35 years.
MPTC operates other major toll roads in the country: North Luzon Expressway, Subic-Clark-Tarlac expressway, and Manila Cavite Expressway . It is also slated to start construction of the Cavite Laguna Expressway and the NLEX-SLEX connector road project by next year.
MPTC expects to spend approximately P122.8-billion in the next five years building highways and tollroads around the Philippines.
CCLEX is an 8.5-kilometer toll bridge that will connect mainland Cebu and the island of Mactan via Cebu City and the municipality of Cordova therefore easing traffic congestion in Cebu and Mactan.
Construction will take three years, which completion targeted by March 2021. The toll bridge is expected to serve at least 40,000 vehicles daily.
Rodrigo Franco, Metro Pacific Tollways Corp. (MPTC) president and chief operating officer, told reporters the company is raising funds of around P18 billion to P19 billion to finance the project construction.
“It’s a syndicated loan from local banks (of) about P18 billion to P19 billion…(Funding) is on the way, by August we’ll close the financing,” Franco told reporters on the sidelines of the CCLEX construction works ceremony here.
Franco said the company had proposed a toll fee of P89 for the whole stretch of the expressway.
Last December, CCLEC signed a contract with civil works contractor Cebu Link joint venture (CLJV), a consortium of Spain-based Acciona Construction S.A. and Philippine-based First Balfour Inc and D.M. Consunji Inc. The consortium members all have proven track record in the construction of major infrastructure projects.
The contract includes construction of the connections to Cebu City and Cordova, the main bridge structure, viaduct, causeway, roadway and toll facilities.
The project is located around 8.5 kilometers south of the Mandaue Bridge and will take off from the Cebu South Coastal Road crossing the Mactan channel to Mactan Island.
CCLEC also tapped COWI A/S of Denmark and Philippines’ DCCD Engineering Corp. as sub-consultants and technical advisor/owner’s engineer while Norconsult is the independent consultant for the CLLEX.
The toll bridge is the first of MPTC’s envisioned toll road expansion projects in Visayas and Mindanao.,
It will have two lanes each direction and will feature the main twin cable-stayed bridge structure, viaduct and causeway. It will help decongest the existing Mactan-Mandaue and Marcelo Fernan bridges, where traffic at present already builds up in both approaches particularly during peak hours.
“ This is very important to us because… it’s our first expressway project outside Luzon,” Franco added.
CCLEC, a subsidiary company of MPTC which in turn is the toll road arm of Metro Pacific Investments Corp.
CCLEC will build, operate and maintain the toll bridge through a joint venture agreement with the local governments of Cebu City and Cordova Municipality for 35 years.
MPTC operates other major toll roads in the country: North Luzon Expressway, Subic-Clark-Tarlac expressway, and Manila Cavite Expressway . It is also slated to start construction of the Cavite Laguna Expressway and the NLEX-SLEX connector road project by next year.
MPTC expects to spend approximately P122.8-billion in the next five years building highways and tollroads around the Philippines.
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