CONSTRUCTION of the Radial Road (R-10) section of the North Luzon Expressway Harbor Link Segment 10 is set to begin early this year.
”That will start early 2018,” Manila North Tollways Corp. (MNTC) president and CEO Rodrigo E. Franco said in a text message.
The R-10 is a 2.6-kilometer road that serves as the continuation of the 5.7-kilometer Harbor Link Segment 10, an elevated expressway passing through McArthur Highway in Valenzuela City, Governor Pascual Avenue in Malabon City, and C-3 Road/5th Avenue in Caloocan City.
MNTC is the concessionaire for the project, which seeks to provide direct access between the port area and provinces in northern and central Luzon.
Mr. Franco said the government has yet to give the company the final clearance to begin construction works on the R-10 portion.
In November 2017, Mr. Franco said they are waiting for the government’s final approval to start construction on the section. The Toll Regulatory Board has given clearance to proceed, but the company is still negotiating some aspects such as investment recovery.
Mr. Franco, who is also president and CEO of Metro Pacific Tollways Corp. (MPTC), said the company is still looking for opportunities to expand in Malaysia.
“No agreement yet in Malaysia. We are still scouting for opportunities,” Mr. Franco said.
MPIC Chairman Manuel V. Pangilinan earlier said the company is expecting to close a deal with a Malaysian firm.
In 2016, MPTC was in talks with a Malaysian company for a 50-kilometer toll way project but the talks fell through.
The Metro Pacific Investments Corp. (MPIC) unit is continuing its expansion into Southeast Asia. In November, MPTC raised its stake in Indonesian infrastructure holding company PT Nusantara Infrastructure Tbk.
MPIC currently has stakes in a toll road operator in Bangkok, Thailand and a firm with road and bridges projects in Ho Chi Minh, Vietnam.
MPIC is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the investment management and holding company of Indonesia’s Salim family. MPIC’s other units are Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.