MPIC to Spend P30-Billion for the Construction of CCLEx Connecting Cebu and Cordova

One of the country's most prominent business conglomerate Metro Pacific Investments Corporation (MPIC) will be spending roughly P30 billion over three years to build an expressway bridge between the Queen City of the South, Cebu City and the municipality of Cordova, as revealed by some company officials.



According to Metro Pacific Tollways Corp. President Rodrigo E. Franco said that his group headed by businessman Manny Pangilinan has committed to raise the amount to fund the P30-billion Cebu-Cordova Link Expressway (CCLEx) through 2021.

In an interview with some local media Franco was quoted as saying "We expect to raise financing of up to P30 billion over the next several years for this project," he said.



MPTDC Vice President Francis Rojas on his part said that the project financing will be split between debt and equity.

"For this project, roughly P20 billion will be from loans, and P10 billion will be equity-so that's about 70-percent debt and 30-percent equity," he said in an interview.

The CCLex tool road, an 8.5-kilometer stretch, is envisioned to have two lanes in each direction, and will feature the main navigation span bridge, along with viaduct approach bridges, a causeway, roadway and toll facilities.


The third Cebu-Mactan Bridge will also provide a span for shipping traffic and the link is expected to serve at least 40,000 vehicles daily. It will give the Municipality of Cordova direct access to Cebu City and is envisioned to decongest traffic in the two existing bridges between Mactan and Cebu.

Pres. Duterte's major bridge project in Cebu City in coordination with the LGUs and the private sectors will also provide travel efficiency. The facility is seen to help spur economic growth an boost investments not just in Cebu City and Cordova but also in the entire Cebu Province and the Visayas Region.



Cebu Link Joint Venture is a partnership among Spanish company Acciona Construction SA, and Filipino corporations First Balfour Inc. and DM Consunji Inc. - won the P22.6-billion design and build contract for the project.

The Cebu-Cordova Bridge is Metro Pacific's first bridge project, and the first toll-related deal outside Metro Manila.

Source: BusinessWorld

MPIC to Spend P30-Billion for the Construction of CCLEx Connecting Cebu and Cordova MPIC to Spend P30-Billion for the Construction of CCLEx Connecting Cebu and Cordova Reviewed by Phil Newsome on December 18, 2017 Rating: 5
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