MANILA - Ayala Corp. and San Miguel have signed a memorandum of agreement for the interoperability of the Muntinlupa-Cavite Expressway (MCX) and the South Luzon Expressway (SLEX).
MCX, formerly known as the Daang Hari-SLEX connector road, is Ayala's first toll road project under the government's Public Private Partnership (PPP) program.
"Please be informed that Ayala Corporation, its 80 percent-owned subsidiary MCX Tollway Inc., South Luzon Tollway Corporation (SLTC), and Manila Toll Expressway Systems Inc. (MATES) signed MOA on Interoperability of the MCX and SLEX and an accompanying Addendum to the MOA on Interoperability, both on July 21, 2015," Ayala said in a disclosure to the stock exchange on Tuesday.
SLTC is a subsidiary of San Miguel Corp. and is the grantee of the concession to finance, design and construct the SLEX, while MATES is the grantee of the concession to operate the SLEX.
The interoperability agreement provides the framework that will govern the interface and integration of the technical operations and toll collection systems between MCX and SLEX.
The MCX is a vital access road that links Muntinlupa and the province of Cavite to Metro Manila and the rest of Southern Luzon. It aims to cut travel time from Cavite to Metro Manila to 45 minutes.
The four-kilometer, four-lane expressway will be fully operational by Friday.