Toll alliance bets on Congress backing
Congressional support is likely for the landmark tollways merger of his company, San Miguel Corp., or SMC, and Manuel V. Pangilinan’s Metro Pacific Investments Corp. (MPIC), according to tycoon Ramon S. Ang.
In an interview with reporters last week, Ang said plotting an alliance with Pangilinan will ultimately help ease gridlock across the areas where they both operate toll roads.
“(Franchise of the tollway?) Never mind that. If you have good intentions, it’s easy to approach the government, the leadership of Congress, and the Senate,” Ang said.
“Because of the tollway we are building, he (Pangilinan) said let’s combine it so that there will be no traffic all over Luzon, (especially) Metro Manila. We will finalize this very soon. Maybe in the next few months,” he added.
The proposed toll road merger includes MPIC Indonesian assets. While Ang acknowledges the positive potential of this move, he emphasizes that it is still under careful consideration and evaluation.
Meanwhile, Pangilinan, who sits as chairman and president of MPIC, earlier told reporters that the parties are actively discussing key insights on how they can proceed with the planned initial public offering as early as this year.
Given the straightforward nature of the business, Pangilinan pointed out that listing the planned merger could happen within the year.
MPIC owns 99.9 percent of Metro Pacific Tollways Corp. (MPTC) which holds the concession rights for the Cavite-Laguna Expressway, Cavite Expressway, North Luzon Expressway, NLEX Connector Road, Subic-Clark-Tarlac Expressway, and Cebu-Cordova Link Expressway in Cebu.
MPTC, through Metro Pacific Tollways Asia, also has a significant stake in two major infrastructure companies in the Pan-ASEAN region: a 76.31 percent share in PT Nusantara Infrastructure in Indonesia and a 44.9 percent share in CII Bridges & Roads of Vietnam.
Meanwhile, SMC, through SMC Infrastructure, operates the Tarlac-Pangasinan-La Union Expressway, the Southern Tagalog Arterial Road, the South Luzon Expressway, the Skyway System, and the NAIA Expressway.
