The construction of the 45-kilometer Cavite-Laguna Expressway (CalaEx) is expected to gain speed as its private sector concessionaire sealed a crucial loan deal.
A ceremonial signing was held on Thursday night to close a P24.2-billion term loan agreement between a unit of Manuel V. Pangilinan-led Metro Pacific Investments Corp. and a group of banks composed of BDO Unibank Inc., UnionBank of the Philippines, Bank of the Philippine Islands, Rizal Commercial Banking Corp., Land Bank of the Philippines and Security Bank Corp.
CalaEx, which is among the public-private partnership projects awarded under the previous administration, will link the South Luzon Expressway (SLEx) Mamplasan Exit to the Cavite Expressway in Kawit, Cavite.
The project aims to cut the usual multihour travel time between Manila and Laguna to around 30 minutes.
CalaEx, which will be completed in 2020, was bagged by Metro Pacific unit MP CALA Holdings in 2015 following a rebidding exercise.
20 окт 2024
