Metro Pac subsidiary proposes to build new Mactan-Cebu bridge

The tollroad unit of Metro Pacific Investments Corp. (MPIC) has bagged the right to negotiate with the local city governments to build an 8.3-kilometer toll bridge that will link the island of Mactan to mainland Cebu, a key infrastructure project estimated to cost P17 billion.

MPIC, the infrastructure holding firm led by businessman Manuel V. Pangilinan, disclosed to the Philippine Stock Exchange (PSE) Monday that Metro Pacific Tollways Development Corp. (MPTDC) had procured the “original proponent status” for the proposed Cebu-Cordova bridge project.

The project aims to decongest the traffic at the two existing bridges to Metropolitan Cebu—the Marcelo Fernan Bridge and the Mactan-Mandaue (or Osmeña) Bridge—and provide seamless access between the two islands.

It is envisioned to be a landmark infrastructure that will link the island of Mactan to mainland Cebu through the municipality of Cordova.

MPTDC, a unit of MPIC’s tollroad arm Metro Pacific Tollways Corp., has submitted an unsolicited proposal to form a joint-venture vehicle with the City of Cebu and the Municipality of Cordova for the design, construction, implementation, operation and maintenance of the toll bridge. This will include the construction of the main bridge structure, viaduct, causeway and roadway.

As the original proponent of the project, MPTDC can now start negotiations with both Cebu City and the Municipality of Cordova. After mapping out the terms of the project, it will be subject to a “Swiss” challenge. This means other parties will be invited to submit better proposals, but MPTDC will have the right to match the terms of the best challenger.

The proposed joint venture would operate under a 35-year concession period, inclusive of the preparatory work, design and construction of the project, the disclosure said. Doris C. Dumlao