METRO Pacific Tollways Corp. (MPTC)

METRO Pacific Tollways Corp. (MPTC), a subsidiary of Metro Pacific Investments Corp. (MPIC) led with the aid of businessman Manny Pangilinan, has finished a deal to accumulate a significant stake in an infrastructure business enterprise in Vietnam.

MPTC stated it has obtained a forty five percentage stake in CII Bridges and Roads Investment Joint Stock Co. (CII B&R) in Vietnam thru a aggregate of percentage

In a disclosure to the Philippine Stocks Exchange, MPTC said it “now holds a widespread minority equity hobby identical to about forty five percentage of the first-rate capital of CII B&R through a combination of purchase of CII B&R secondary shares from Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), and subscription to VND-denominated bonds issued by way of CII, which are exchangeable into secondary stocks in CII B&R.”

CII B&R is majority owned with the aid of CII, one in every of the most important private infrastructure improvement businesses in Vietnam with publicity in toll roads, water, actual estate, and engineering and creation.

CII B&R is a dual carriageway employer based totally in Ho Chi Minh City in Vietnam with about eight toll road and bridge projects totaling approximately 123 kilometers, with present traffic of approximately forty six thousand cars a each day.

CII B&R has a wealthy task portfolio comprising

CII B&R has a wealthy task portfolio comprising of 5 operating projects. These are the New Rach Chiec Bridge Project; the Phan Rang – Thap Cham Bypass (Phase 1) B.O.T. Project; the DT741Road Project; the Sai Gon 2 Bridge B.T. Project; and the Rach Mieu Bridge (Phase 1) B.O.T. Project.

Two initiatives are below construction, particularly the Ha Noi Highway Expansion B.O.T. Project and the Expansion of National Highway 1, a B.O.T. Assignment.

It has one undertaking inside the pipeline, the Binh Trieu 2 Bridge (Part 2 – Phase 2) B.O.T. Project, which it expects to secure within some months.

MPTC said the acquisition fee for the received stocks and subscription charge for the bonds are to be paid upon of entirety of the last conditions and deliverables.

MPTC is the figure corporation of Manila North Tollway Corp. (MNTC) and is the tollway unit of MPIC, which in turn is owned through First Pacific Co. Ltd.

The enterprise in advance stated that First Pacific and MPIC could collectively bid for the $757-million DauGiay-Phan Thiet Expressway task in Vietnam. It said it would buy bid files but the lead entity might be First Pacific together with MPIC.

Vietnam’s Ministry of Transport (MOT) in 2013 invited packages for a “2d investor” within the layout, construction, finance, operation and upkeep of the 98.7-kilometer DauGiay-Phan Thiet Expressway beneath a Public-Private Partnership (PPP) model.

The Vietnam authorities has already recognized Vietnamese conglomerate Bitexco Group Ltd. As the “first investor” inside the challenge, which shall have an fairness stake of as a minimum 60
percentage. The 2nd investor shall keep the closing stake, in line with the MOT.

MPIC is seeking out funding opportunities out of doors the united states of america as a part of efforts to diversify its investments.

With CII B&R’s enjoy in the Vietnam highway industry and its electricity in identifying and growing new initiatives, MPTC believes that CII B&R is the proper associate to make bigger its operations in the Vietnam.