Metro Pacific Tollways Corp. is eyeing Cagayan de Oro as among the major cities in Visayas and Mindanao as target for its planned expansion outside Luzon.
In a statement, Manuel V. Pangilinan, chairman of Metro Pacific Tollways, said they are continuing studies for an expansion outside Luzon and discuss projects with local government units. Aside from Cagayan de Oro, MPTC is also considering the cities of Cebu and Davao.
The company, which operates the North Luzon Expressway (NLEx) and the Subic-Clark-Tarlac Expressway (SCTEx), posted a 22% surge in profits to P1.09 billion in the nine months that ended in September, due to a 6% growth in average daily vehicle entries to 158,045.
Metro Pacific Tollways will spend P25 billion for 3 big-ticket road projects.
- the 4-lane, 2.42-kilometer (km.) Segment 9 stretch that will connect NLEx to MacArthur Highway in Valenzuela City
- the 2-lane, 5.65-km. Segment 10 elevated road from MacArthur Highway to Radial Road R-10
- the 13.2-km. connector road that will link the NLEx at C-3 Road to the Metro Manila Skyway Stage 1 on South Luzon Expressway
Now, a good candidate for Metro Pacific is the continuation of the Cagayan de Oro Coastal Highway stretching from Gusa to Bugo. The Macabalan to Gusa section is currently under construction. Perhaps Mr. Pangilinan could finance the remaining but longer segment which may run 12 kilometers.