Saturday, 13 February 2010

SLTC taking over SLEX operations

Malaysians to take over SLEX in two months
DARWIN G. AMOJELAR
Manila Times
http://www.manilatimes.net/index.php/business-columns/11351-malaysians-to-take-over-slex-in-two-months

THE South Luzon Tollways Corp. (SLTC) said it will take over the operations of the South Luzon Expressway (SLEX) by April, after a regional trial court denied the request of state-led Philippine National Construction Corp. (PNCC) to extend a stay order on the looming takeover of the Philippine capital’s gateway to the industry-heavy export processing zones south of Manila.

Isaac David, president of SLTC and Manila Toll Expressway Systems Inc. (MATES) said they will push through with the completion of the SLEX rehabilitation.

He, however, said that PNCC is still running the toll way as both parties are discussing the date of the takeover.

“There is no point in objecting [to] the takeover. By completing the project, we are now entitled to take over the SLEX. Within a month or two, we will be able to take over,” David said.

Under a 30-year Supplemental Toll Operation Agreement approved by Malacañang in 2006, SLTC must take over the SLEX if two conditions are met: when the rehabilitation and expansion of the thoroughfare nears completion, and should PNCC fail to get an extension of its franchise in Congress.

David earlier said the SLEX is already 98-percent complete and that Congress failed to extend PNCC’s franchise.

“We should have completed the project in March this year and collecting revenues, but because of the PNCC’s refusal we failed to do that. We have already lost P1.5 billion in revenues because of the delay,” he had said.

PNCC collects about P3 million a day, or P90 million a month from operating the SLEX.

SLTC widened the 1.2-kilometer Alabang Viaduct and the 27-kilometer stretch of the SLEX from Alabang to Calamba, Laguna.

The former 29-kilometer four-lane expressway, which starts at the approach to the Alabang viaduct in Muntinlupa City and ends at Barangay Turbina in Calamba, has been widened to eight lanes from the viaduct to Santa Rosa, Laguna, and to six lanes from Santa Rosa to Barangay Turbina.

SLEX would also be extended by another eight kilometers from Barangay Turbina to Santo Tomas, Batangas, thus linking the highway to the Southern Tagalog Arterial Road, the main thoroughfare leading to the international seaport of Batangas.

MTD Capital Berhad of Malaysia, which controls MATES, also owns 80 percent of SLTC, with PNCC holding the remaining 20 percent.

1 comment:

  1. Just wanna ask if MATES is paying thier obligations on time to thier employees shtl van?I heard that MATES are delayed in paying?how true is this?
    Thank you

    ReplyDelete