METRO Pacific Tollways Corporation said on Tuesday it approved a resolution to study potential toll road and other infrastructure investments in the country and the ASEAN region.
“The board of directors of Metro Pacific Tollways Corporation, a subsidiary of Metro Pacific Investments Corporation, approved a resolution to form a special committee, consisting of five directors, to study potential toll road and other infrastructure investments in the Philippines and the Asean region in addition to its existing toll road projects,” MPIC said in a disclosure to the Philippine Stock Exchange.
According to MPIC, the board authorized the company to secure up to P8 billion of standby letter of credit from any local or international financial institution to support potential investments.
The company will make an announcement in line with PSE disclosure rules once the committee has identified its potential investments.
Metro Pacific Tollways is the operator of NLEx, SCTEx and CAVITEx.