The concessionaire for the Manila-Cavite Toll Expressway (Cavitex) urged the Toll Regulatory Board (TRB) on Thursday to approve the company’s P9-billion project that will extend the thoroughfare to C-5 Road in Taguig City.
In a filing to the local bourse, Metro Pacific Investments Corp. (MPIC) said its unit Cavitex Infrastructure Corp. intends to start constructing the 7.6-kilometer extension of the thoroughfare from R-1 (Coastal) Expressway to C-5 Road in Taguig next month.
The multibillion-peso project is part of the existing concession of Cavitex for the Manila-Cavite Toll Expressway network.
The toll regulator is required under the concession to issue the notice to proceed with the construction of the project once an independent consulting firm has issued a certification under the toll-operation agreement on the availability of the right-of-way for the alignment already approved by Department of Public Works and Highways, the approval of a final engineering design now undergoing final review, and construction schedules and costs. Cavitex said the regulator has “approved” the initiative “in principle.”
The project has also received the favorable endorsement of Parañaque City and its barangays, as well as the issuance of the environmental compliance certificate from the Department of Environment and Natural Resources.
“When completed, it will provide relief to traffic congestion in Parañaque City, particularly the residents of Merville, Moonwalk and Multinational villages, and will provide safe, fast and convenient expressway travel for its users in the Cavite, Las Piñas, Parañaque, Taguig and Makati areas, and nearby areas that will benefit from the new expressway,” the disclosure read.
The project originally had a P6-billion price tag and a 5.5-kilometer length.