BCDA awards SCTEX concession back to MNTC

(Updated 5:44 p.m.) The Bases Conversion and Development Authority (BCDA) awarded the long-term management, operation and maintenance contract of the Subic-Clark-Tarlac Expressway (SCTEX) to Metro Pacific Investments Corp. (MPIC) subsidiary Manila North Tollways Corp. (MNTC).

 

"On February 9, Manila North Tollways Corp., a subsidiary of Metro Pacific Investments Corp., received the Notice of Award from the Bases Conversion and Development Authority for the management, operation and maintenance of the 94-kilometer Subic-Clark-Tarlac Expressway subject to compliance with specific conditions," MPIC said in a disclosure to the Philippine Stock Exchange on Tuesday.

 

MNTC president Rodrigo Franco said the amended Business and Operating Agreement (BOA) will be signed within a month.

 

"We will need to sign the amended Business and Operating Agreement within 30 days and pay the P3.5 billion," he told GMA News Online.

 

Franco said MNTC will pay the P3.5 billion upon signing of the revised agreement.

 

The Notice of Award was issued following the results of the price challenge held on January 30, according to the disclosure.

The price challenge involves  besting MNTC's commercial offer as the holder of a business and operating agreement with BCDA over SCTEX.

 

According to BCDA, MNTC's "improved commercial offer" includes an upfront cash payment of P3.5 billion to BCDA, a 50-50 sharing of gross toll revenues between BCDA and its private sector partner (PSP), and the PSP's exclusive account and responsibility over the operation and maintenance costs of SCTEX, as well as the assumption of BCDA's right and obligations under the North Luzon Expressway- SCTEX Toll Collection System Integration Agreement.

 

The BCDA on Jan. 6 announced that two firms have bought bid documents for the price challenge – San Miguel Corp. and an undisclosed group represented by the law firm of Aguirre Abaño Pamfilo Paras Pineda and Agustin.

 

However, on Jan. 30, the BCDA said it did not receive a challenge on the rights, interest and obligations for the management, operation and maintenance of SCTEX.

 

SCTEX is a four-lane expressway that traverses Bataan, Pampanga, and Tarlac and is directly linked to the North Luzon Expressway. 

 

MPIC noted that 31,000 vehicles a day use the 94-kilometer expressway.

 

"Traffic growth for 2014 is estimated at 12 percent year-on-year," MPIC said. – VS, GMA News