MPTC Revenue Grows Despite Softer Philippines Traffic

MANILA, Philippines — Pangilinan-led Metro Pacific Tollways Corp. (MPTC) kept revenue growth on track in the first half as its expanding toll-road network helped offset softer domestic traffic. The tollway arm of conglomerate Metro Pacific Investments Corp. delivered toll revenues of P19.6 billion from January to June, up eight percent year-on-year. Across its regional network, average daily vehicle entries rose by one percent to about 2.5 million, with Indonesia driving much of the growth as traffic there climbed by three percent to 1.67 million entries a day. Philippine traffic, meanwhile, averaged 715,200 daily vehicle entries. “Our first-half results reflect a broader and still-expanding regional business. Traffic in the Philippines is only one part of the picture. New road openings, stronger Indonesian operations and our equity investments all contributed to the period’s performance,” MPTC said. The company further strengthened its foothold in Indonesia through an investment in PT Jasamarga Transjawa Tol, which operates a 676-kilometer network of 13 strategic toll roads across West, Central and East Java. In the Philippines, MPTC also continues to pour investments in infrastructure, with capital expenditures reaching P7.6 billion in the first half. Its spending, however, was lower by five percent year-on-year as completion schedules for ongoing projects were affected by right-of-way and related construction issues. Ongoing projects include NLEX Segment 8.2 Section 1A, which will connect Mindanao Avenue to Quirino Highway, the remaining sections of Calax, and the Cavitex-Calax Link Expressway. MPTC is also completing the remaining works on Cavitex C5 Link Segment 3B Phase 2 and the NLEX Connector. “Our priority remains the same: keep our roads safe and reliable, finish critical links as quickly as right-of-way and construction conditions allow, and deliver better mobility for motorists, commuters and businesses,” it said. Information Source: Philstar Business