MPT South plans P14-B capex for 2025 projects

EXPRESSWAY operator MPT South Management Corp. is allocating P14 billion for its 2025 capital expenditure (capex) budget to fund key projects slated for completion next year, the company’s president said.

“Despite the challenges we face in construction, such as the timely delivery of right-of-way and the recent typhoons, we are working around the clock to ensure the delivery of these vital infrastructure projects for the benefit of progress by the end of 2025,” Raul L. Ignacio, MPT South president and general manager, said during a briefing on Monday.

MPT South Vice-President for Finance Elnora D. Rumawak said that next year’s target capex is almost double this year’s P8-billion capex budget.

For this year, MPT South expects to end with a core net income of P1.4 billion, up by 16.7% from P1.2 billion in 2023, driven by toll revenue from toll rate adjustments approved in 2023.

The company also anticipates ending the year with total revenues of P3.4 billion, marking a 13.3% increase from last year’s P3 billion.

MPT South’s capex for 2025 will mainly be funded by a mix of internally generated funds and debts, Ms. Rumawak said.

“2025 is a promising year for us… With all the projects that we will complete, traffic will increase by around 33%,” Ms. Rumawak said.

For 2025, MPT South expects an average daily vehicle count of 344,514, marking a 32.6% increase from the current 259,815.

The company’s optimism for next year is driven by the completion of several key projects which will boost MPT South’s overall operations, Mr. Ignacio said, adding that MPT South’s growth will ultimately hinge on the timely completion of its key projects.

The completion of MPT South’s expressway network will bring its total road network to 67 kilometers by the end of 2025, while also providing efficient services between industrial and commercial hubs, shortening travel time for motorists, the company said.

“We are quite confident of meeting our targets within 2025,” Mr. Ignacio said.

The Governor’s Drive Interchange of the Cavite-Laguna Expressway (CALAX) is among the projects scheduled for completion in 2025.

MPCALA Holdings, Inc., the concessionaire of CALAX, said previously that the portion of Governor’s Drive Interchange of CALAX has reached 25% completion and is on track to be opened by the first quarter of 2025.

Mr. Ignacio also said that other segments of CALAX and CAVITEX C5 Link like the Open Canal Interchange, Kawit Interchange, and C5 Link Segment 3B are all expected for commercial operations before the end of 2025.

MPTC is the tollways unit of Metro Pacific Investments Corp., which is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

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