MANILA, Philippines - Metro Pacific Investments Corp. and
the state-run Philippine National Construction Corp. (PNCC) are set to ink a joint venture agreement for the toll road connecting the North and South Luzon expressways on Tuesday.
The agreement between Metro Pacific Tollways Development Corp. (MPTDC) and PNCC will pave the way for the construction of the P23 billion NLEX-SLEX connector road, to be implemented by Manila North Tollways Corporation (MNTC).
The PNCC will get a 2.5 percent equity and a 6 percent share in gross revenues under the agreement.
The Department of Transportation and Communication (DOTC) wants construction to begin early 2014 so that the NLEX-SLEX Connector Road will be completed in time for the Leaders Meeting of the Asia Pacific Economic Cooperation (APEC) in 2015.