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STATE-OWNED National Development Co. (NDC) will fund the
P1.2-billion C6 road project connecting
Cavite to the South Luzon Expressway (Slex).
Trade
Secretary Peter B. Favila said the NDC will allocate
P263 million from its internal funds, while the
remaining P973 million will be raised through financing.
The
four-kilometer road will link Daang Hari in Bacoor,
Cavite to the Slex via the New Bilibid Prisons. Favila
said the plan is to cut through a certain property of
the New Bilibid Prisons owned by the Department of
Justice to allow the C6 road network to pass through it.
The C6
project was taken over by the NDC from its subsidiary,
the Philippine Infrastructure Corp. (PIC), and is now
awaiting the approval of the Toll Regulatory Board for
its declaration as a toll-road.
The NDC
created the Alabang-Sto. Tomas Development Inc. (Asdi)
to oversee the project.
It has
already negotiated with the property owners who will be
affected by the project for the right-of-way.
Favila
said after the project is completed, they will look for
a private partner to operate and maintain it.
“We (NDC)
did the mezzanine financing so now we are going to
finish it, then privatize it for operation. PIC, anyway,
is also a subsidiary of NDC,” Favila said.
An Asdi
briefer said the project aims to provide Cavite and
Laguna motorists an alternative route to and from
Manila.
This will also help improve Calabarzon’s competitiveness
as an investment destination by providing new road
access, and generate private investments in the future.
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