Metro Pacific talking with Chinese firms for infra venture in Philippines
Metro Pacific Investments Corp. said Wednesday it is in preliminary talks with several Chinese companies for possible infrastructure projects in the country.
“MPIC is talking to certain Chinese contractors for the tollways and bridges, mainly construction. We want to talk to them about the LRT trains,” Manuel Pangilinan, chairman of MPIC said.
MPIC has business stakes in tollways, railways, power, water distribution and healthcare in the Philippines.
MPIC Group operates the North Luzon Expressway, Subic-Clark-Tarlac Expressway and Manila-Cavite Toll Expressway.
MPIC’s subsidiary MPCala got a contract from the public works department to finance, design, build, operate and maintain a four-lane, 47-kilometer closed-system toll expressway connecting Cavitex and South Luzon Expressway.
The P35.4-billion expressway will start from Cavitex in Kawit, Cavite and end at the SLEx-Mamplasan Interchange in Bi?an, Laguna.
MPIC, through Light Rail Manila Corp., operates the existing Light Rail Transit (LRT) Line 1 and has the right expand the system up to Cavite from Baclaran in Pasay City.
The firm disclosed a core net income of P9.3 billion in the January to December period, up 13 percent from P8.2 billion in the same period last year.
The company expects its core profit to reach P11.7 billion from an initial estimate of P11.5 billion. DMS
