Latest Stories

MVP group submitting new offer for SCTex

MPTC consults with finance department on refinements


Manuel V. Pangilinan’s Metro Pacific Tollways Corp. (MPTC) is scheduled to submit its revised proposal for the Subic-Clark-Tarlac Expressway (SCTEx) concession deal by the end of this month, with company officials hopeful of finally striking a deal with the government after a three-year delay.

MPTC chief financial officer Chris Lizo on Thursday said the firm’s new proposal, which would give the government a higher share in toll revenues, would be sent to the Bases Conversion and Development Authority (BCDA) next week.

Lizo said the company was also working on starting talks with the Department of Finance (DOF) to discuss other refinements that would make the proposal acceptable to the government.

Lizo said that while it had no official “personality” in approving MPTC’s SCTEx offer, gaining the DOF’s support would bolster the chances of getting the proposal approved.

If and when MPTC’s offer is approved by the BCDA, the proposal would be forwarded to the Office of the President for the final approval.

This is the third time MPTC is revising its offer for the SCTEx contract.

Under the new proposal, the BCDA would get a share of 50 percent in the total revenue versus the 70 percent that the agency was entitled to before.

However, if the BCDA’s share in revenue falls short of the amount needed for debt payments to the Japanese International Cooperation Agency (Jica), which funded the construction of SCTEx, MPTC said it would provide cash advances to cover the deficit.

MPTC had pledged to provide cash advances until 2016, but later extended the period covered to 2019 as it sought to sweeten its offer.

The cash advances, however, would be deducted from the BCDA’s future share in the profits from the SCTEx operations.

Yearly payments to Jica for the SCTEx amounts to about P1.4 billion. However, current traffic at the highway generates P900 million a year, the BCDA’s estimates showed.

The BCDA stands to earn more if traffic at SCTEx meets or exceeds targets. But if vehicle traffic falls short of targets, the government’s share may not be enough to meet debt payment requirements. This means the BCDA would have to tap other revenue streams to meet obligations.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: BCDA , Business , concession deal , mvp group , SCTEx

  • http://www.facebook.com/yogi.doodle.7 Yogi Doodle

    I think SCTEX has no more budget for lights. It is not safe to use SCTEX at night. Sobrang dilim. Kailan magkakaroon ang SCTEX ng lights para safe to
    drive during the dark? Grabe ang tagal nang ganito ang SCTEX.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • How other faiths observe Holy Week
  • No noise, partying in Boracay on Good Friday
  • More legal woes for Cedric Lee
  • NATO ups military presence amid Russian threat
  • DOH issues official statement on confirmed case of MERS-CoV
  • Sports

  • San Miguel Beer clinches 2nd spot after comeback win over Air21
  • Tenacious Iran frustrates Qatar to retain Asian Club volleyball crown
  • Floyd Mayweather is ESPN’s top-paid athlete
  • Pistorius trial: Judge sets 2-week adjournment
  • China, Taiwan rout foes for 3rd, 5th places in Asian Club volleyball
  • Lifestyle

  • Are your favorite malls open this Holy Week break?
  • Celebrate Easter Sunday at Buddha-Bar Manila
  • Moriones feast: A slow, steady transformation
  • Weaving ‘palaspas’ a tradition kept alive in Tayabas City
  • Finalists announced for best translated books
  • Entertainment

  • Filipino rock icons to hold silent concert
  • Mommy Dionisia Pacquiao’s greatest hits
  • Deniece Cornejo posts bail—report
  • Miley Cyrus hospitalized, cancels US concert
  • Otaku Summer Jam 2014: Summer’s hottest J-rock/Cosplay event
  • Business

  • Ford Philippines delivers strong Q1 performance
  • Russian economy hit by Ukraine turmoil
  • PSEi firms up ahead of Lenten break
  • I-Remit teams up with Lakhoo for remittances from Oman
  • Megawide nets P1.4 B in 2013
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • We may never know
  • Couple of things
  • Mommy D’s magic
  • Stop bizarre and bloody Good Friday rituals
  • Holy Week taboos
  • Global Nation

  • Netizens welcome Japan’s visa-free travel plan
  • Visa-free travel by Filipinos to Japan still a proposal
  • Visa-free travel to Japan could boost tourism
  • 2 PCG men ordered arrested over Balintang Channel shooting
  • US Embassy closed on Holy Thursday, Good Friday
  • Marketplace