Tag: tollways

DOF considering selling government’s SLEX share

DOF considering selling government’s SLEX share

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Recently the Department of Finance (DOF) announced that it is considering selling the government’s share in South Luzon Expressway (SLEX), according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin. Some parts in boldface…

The Department of Finance (DOF) is considering selling the government’s stake in the South Luzon Expressway (SLEX) by the end of this year.

Finance Undersecretary Catherine L. Fong told Manila Bulletin that the government’s ownership in SLEX is included among the assets slated for privatization in 2024.

However, Fong did not provide additional details when asked about the specific shares in SLEX that are being considered for sale.

The government currently holds a 20 percent stake in SMC SLEX Inc., the toll road operator, through the state-owned Philippine National Construction Corp. (PNCC).

SMC SLEX, formerly known as South Luzon Tollway Corp, operates as a unit of San Miguel Holdings Corp. and is a joint venture with PNCC.

Fong said that the Land Bank of the Philippines will conduct the valuation of the SLEX shares.

In 2006, SMC SLEX was granted a 30-year concession, set to expire on Feb. 1, 2036, to operate and manage SLEX, a major tollway in Luzon.

The proceeds from the sale will help achieve the Marcos administration’s target of generating P42.12 billion in non-tax revenues through privatization in 2024.

Apart from the SLEX shares, Fong said that the DOF is also set to sell the 2.2-hectare Mile Long property in Makati.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think selling the government’s stake in the SLEX will turn out good and sensible?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

CAVITEX C5 Link Segment will reduce travel time by 10 minutes (Coastal Road to Sucat)

CAVITEX C5 Link Segment will reduce travel time by 10 minutes (Coastal Road to Sucat)

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If you constantly travel between Cavite province and Parañaque City, then you will eventually benefit from improvements as the Manila-Cavite Expressway (CAVITEX) announced that the travel time between Sucat (Parañaque) and Coastal Road will be reduced by 10 minutes upon the expected 2024 (first quarter) completion of the CAVITEX C5 Link Segment, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Manila-Cavite Expressway (Cavitex) announced that travel time going to Sucat, Parañaque from Coastal Road will be cut by 10 minutes once the Cavitex C5 Link Segment 2 is completed by the first quarter of 2024.

According to Cavitex Infrastructure Corporation (CIC) President and General Manager Raul Ignacio, the cut of 10 minutes travel time in going to Sucat, Parañaque from Coastal Road and vice versa will make travel more efficient and seamless for motorist and daily commuters.

Ignacio said that in preparation for the completion of the Cavitex C5 Link Segment 2 R1 Interchange, counter flow schemes will be implemented at the Parañaque Toll Plaza from September 14 to 25 from 10:00 p.m. to 4:00 a.m.

He said the scheme will be in effect from September 15-19 for Manila-bound traffic and September 19-25 for Cavite-bound traffic. To alleviate congestion,  the CIC said it will also activate counter flow lanes as needed.  

Ignacio also said the R-1 Interchange is a vital 1.9-kilometer segment (Segment 2) of the Cavitex C5 Link project, a 7.7-kilometer, 2×3 lane expressway set to connect Cavitex R1 to C5 Road in Taguig.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you often travel along the CAVITEX?  

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

MCX acquired by Villar-led company for P3.8 billion

MCX acquired by Villar-led company for P3.8 billion

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Have you been driving lately along the Muntinlupa-Cavite Expressway (MCX)? In case you missed the news, the MCX has officially been acquired by a company led by the influential Villar group for almost P4 billion, according to a Manila Standard news report.

To put things in perspective, posted below is an excerpt from the Manila Standard news article. Some parts in boldface…

Prime Asset Ventures Inc., a company led by the Villar Group, on Wednesday finalized the acquisition of the four-kilometer Muntinlupa-Cavite Expressway from Ayala Corp. for P3.8 billion.

PAVI said in a statement it signed the implementing agreements for the acquisition of MCX after the Department of Public Works and Highways in July approved the transfer of ownership of from Ayala Corp. to the Villar Group.

Vista Land chairman Manuel Villar Jr. and Ayala Corp. president and chief executive Cezar Consing attended the signing ceremony at Brittany Hotel in Bonifacio Global City, Taguig.

“This momentous event shows our resolve to provide our countrymen better services in the area of roads and toll ways. You’ll be surprised of the many wonderful things to come in Villar City,” Villar said.

MCX is a four-kilometer controlled-access toll road linking the southern part of Cavite to Muntinlupa. It is the first public-private partner project under the Aquino administration.

Ayala signed the 30-year concession agreement for the operation of MCX Expressway in 2012. It invested P2.2 billion for the project including a P902-million cash payment to the government.

Ayala announced in March 2022 it would sell its entire stake in MCX Project Company Inc., which holds the concession for the MCX to the Villar Group for P3.8 billion.

“Ayala developed MCX over a decade ago to connect Metro Manila to Imus, Dasmarinas and Bacoor in Cavite which were experiencing rapid growth. MCX succeeded in relieving traffic congestion and reducing the travel time between Metro Manila and Cavite. The sale of MCX represents another example of our recycling capital to benefit from opportunities in our core and emerging businesses,” Consing said.

The acquisition will further expand Villar Group investment portfolio which currently includes housing, retail, food, water, power, and utilities, to integrated resorts and entertainment.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there will be major changes regarding the MCX under the new owners? Do you constantly travel along the MCX?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

420-kilometer SLEX toll road approved

420-kilometer SLEX toll road approved

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Traveling south along the South Luzon Expressway (SLEX) will lead to more destinations faster as the Department of Transportation (DOTr) and other stakeholders approved the SLEX TR5 (South Luzon Expressway Toll Road 5) which is over 400 kilometers long, according to a Malaya news report. The said toll road stretches from Lucena, Quezon province to Matnog, Sorsogon.

To put things in perspective, posted below is the excerpt from the Malaya news report. Some parts in boldface…

The Department of Transportation (DOTr), along with other government agencies, has given the green light for the 420-kilometer South Luzon Expressway Toll Road 5 (SLEX TR5) from Lucena, Quezon to Matnog, Sorsogon.

The supplemental toll operations agreement was signed last June 3, almost two years after the Toll Regulatory Board (TRB) designated San Miguel Corp.’s proposal as a certified toll road project.

The agreement was signed by the DOTr, TRB, Department of Public Works and Highways (DPWH) and San Miguel Holdings Corp. (SMHC), and will be submitted to the Office of the President for approval.

As a toll road project, SLEX TR5 will involve various activities such as a right-of-way acquisition and construction, among others.

According to the TRB and the toll concessionaire, SLEX TR5 will connect Quezon and the provinces in Bicol. It is also expected to provide better and safer access to the tourism destinations, roll-on roll-off ports and fish ports in the provinces as well as address the traffic congestion in Bicol Region.

The TR5 is a four-lane divided toll road that starts from the terminal point of the SLEX TR4 project at Barangay Mayao, Lucena City in Quezon and ends at Matnog in Sorsogon near the Matnog Ferry Terminal.

SLEX TR5 is composed of eight segments which will run parallel to the existing Philippine National Railways, Maharlika Highway and Padre Burgos National Road or Quirino Highway.

The first segment is a 59.6-km. expressway from Lucena to Gumaca in Quezon that is estimated to cost P22.6 billion. Segment 1 is expected to be completed within 24 months, according to the DPWH.

Let me end this piece by asking you readers: What is your reaction to this new development? Once the toll road is completed, do you intend to travel far further south?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco/