Province of Cavite, Jan. 11 (PIA) - The Cavite-Laguna Expressway (CALAX) project is seen to start commercial operations of some segments in the Laguna side as early as July 2019 with the funding for the construction and concession secured by a loan.
Metro Pacific Tollways Corp. (MPTC) Chief Financial Officer Christopher Daniel C. Lizo disclosed that the company had closed the P24.2-billion loan with six banks namely: BDO Unibank, Inc.; Union Bank of the Philippines, Inc.; Rizal Commercial Banking Corp. (RCBC); Bank of the Philippine Islands (BPI); Security Bank Corp., and Land Bank of the Philippines.
The loan is intended to finish the P35.43-billion (45.29-kilometer) CALAX project, funding the Laguna and Cavite segments.
The first 10 kilometers of CALAX on the Laguna side is scheduled to open in July, a year earlier from schedule while the entrance from the Cavite side might be delayed since substantial right of way from the Department of Public Works and Highways (DPWH) is not yet given.
"Some sections ahead, some sections delayed. We're opening Sections 6 to 8, which is from Mamplasan to Sta. Rosa, July. So that's ahead of schedule... Cavite, admittedly delayed. Kulang pa 'yung right of way [Right of way is still lacking]," explained Mr. Lizo.
Meanwhile, MPCALA Holdings President and General Manager Roberto V. Bontia revealed that the Cavite side is targeted to start construction by first quarter next year.
"They will start hopefully first quarter of next year," he said.
CALAX is targeted to open by July 2020 which will connect the Manila-Cavite Expressway (CAVITEx) to the South Luzon Expressway (SLEx) giving much convenience to commuters with reduced travel time from the two points by half from one hour and 30 minutes to forty five minutes. (Ruel Francisco, PIA-Cavite/with reports from GoCavite)