MANILA-- The Board of Investments (BOI) has approved the PHP48.5-billion Cavite-Laguna Expressway (CALAX) of MPCALA Holdings Inc. (MHI), which is qualified as preferred activity of the Investment Priorities Plan (IPP) under the infrastructure public-private partnership (PPP) project.
BOI Managing Head Ceferino Rodolfo said Friday this project will address the infrastructure requirement of businesses and commuters in Cavite and Laguna.
CALAX is a 44.9-kilometer expressway linking Manila-Cavite Expressway (CAVITEx) and South Luzon Expressway (SLEX).
It has two segments including the 26.48-kilometer Cavite segment and the 18.15-kilometer segment.
The Cavite segment stretches from Tirona Hi-way in Kawit to Aguinaldo Hi-way in Silang, while the Laguna segment starts from Aguinaldo Hi-way to Greenfield Property in BiAan, Laguna.
The commercial operation of CALAX is targeted to start by July 2020, employing 280 personnel.
CALAX will greatly ease the movement of goods and services in the area, further boosting the economic activities in the Southern Tagalog region and create jobs, said Rodolfo.
This kind of project is among the priority sectors of the Duterte administration, as part of the Dutertenomics, or President Rodrigo Duterte's socioeconomic agenda to spur economic growth and alleviate poverty nationwide.
The CALAX project was approved by the National Economic Development Authority Board in 2015 under Build-Transfer-Operate contractual agreement and will be implemented by the Department of Public Works Highway (DPWH).
MHI is owned by Manuel V. Pangilinan's Metro Pacific Group.
Moreover, Rodolfo earlier mentioned that BOI is looking at 25 percent growth in investment approvals from January to April period this year from the same period in 2016.
In the first quarter of the year, investment pledges with the BOI reached PHP68 billion, increasing by 10 percent from PHP62 billion in its previous year.
Source: Philippines News Agency