Cavitex Infrastructure Corp. (CIC), a tollroads unit of the Manuel Pangilinan-led Metro Pacific Investments Corp. (MPIC) on Friday broke ground for the C5 South Link Project.
The 6-lane expressway that will connect Circumferential Road 5 (C5) to the Manila-Cavite Expressway is a joint venture of the Philippine Reclamation Authority (PRA) and CIC, and a flagship project of the Philippine government’s public-private partnership (PPP) program.
The project, which will be carried out in two phases, has a cost of P10 billion. The first phase of the project or the C-5 South Link Expressway costs P2.5 billion, while the second phase that will connect villages in Parañaque to Coastal Road has a project cost of P7.5 billion.
“South Metro Manila is composed mostly of residential areas. Most people living here are working in Makati, Taguig and Ortigas. So during rush hour, there is a large volume of vehicles that travel daily, resulting in traffic congestion on EDSA and C5,” says CIC President Luigi Bautista.
“The C5 South Link will allow residents from Cavite, Las Piñas and parts of Parañaque to avoid EDSA, and take a direct link to and from C5 to the Cavitex,” he added.
Bautista said the project is expected to be completed in the last quarter of 2018 and commercial operations will begin early 2019. The proposed toll is P16 for the entire 7.7km stretch of the C5 South Link.
The road is estimated to accommodate 40,000 to 45,000 vehicles daily, and traffic volume is expected to increase by 2 percent to 3 percent annually.
“If the motorists begin to see the road’s usefulness traffic volume could increase by up to 7 percent annually,” Bautista said.
The funding for the project will be equity and bank loan following a 70 percent to 30 percent scheme according to Bautista.
The construction of the project is slated to begin in July after necessary approvals from the Department of Public Works and Highways (DPWH), Department of Transportation and Communications (DOTC), CIC and CITRA Metro Manila Tollways Corp. (CMMTC) are secured.
Bautista said approvals from DPWH, DOTC and CIC have been approved.
“All three have already signed the memorandum of agreement except CITRA,” Bautista said.
The whole project is envisioned to decongest traffic in EDSA and C-5 Road arteries while providing easier travel from Taguig, Makati, Pasay, Pasig, Quezon City and other northern areas to Manila, Las Piñas and Cavite province.