FPII, govt in talks for project connecting North, South expressways

MANILA, Philippines - First Philippine Infrastructure Inc. (FPII) and the government are currently in talks regarding the possible development of an 18 kilometer rail and toll road project that will connect the North and South Luzon Expressways. The project may use the existing Philippine National Railway (PNR) lines that cut across Metro Manila, FPII, which has been renamed Metro Pacific Infrastructure Inc., told the Philippine Stock Exchange (PSE). The project is part of the company’s thrust into infrastructure intended to ease congestion in Metro Manila’s transportation networks, said Manuel V. Pangilinan, FPII chairman. FPII was acquired last year by Metro Pacific Investments Corp (MPIC) when it bought the stakes held by two Lopez-led companies for P12.2 billion. Besides being headed by Pangilinan, MPIC has investments in tollways, real-estate, and utilities. “We look forward to an opportunity of providing PNR our commercial and technical experience for the improvement and efficiency of the country’s infrastructure system," Manuel V. Pangilinan, FPII and Metro Pacific Investments Corp. chairman said. Shares of FPII remained steady at P2.55 apiece during Friday’s trading at the PSE. - GMANews.TV