MPIC eyes 2 major toll road projects in Vietnam

Posted at 02/24/14 6:07 PM

MANILA, Philippines – Metro Pacific Investments Corp. (MPIC) is looking at developing two major toll road projects in Vietnam, the president of MPIC’s Metro Pacific Tollways Corp. (MPTC) Ramoncito Fernandez said.

Fernandez said both toll road projects would entail investments of up to $1 billion for the winning bidders.

“It is still very raw but we are looking at two roads in Vietnam,” he said.

One of the projects involves the expansion of a toll road project in the northern portion of Ho Chi Minh.

Fernandez said MPIC is in talks with Cuu Long Infrastructure Development and Management Corp., the counterpart of Philippine National Construction Corp. (PNCC) in Vietnam, for the proposal to the Ministry of Transport of Vietnam.

“We are making a proposal together with them (Cuu Long) to the Ministry of Transport. It is too early to talk about it but we are still hoping there will be positive developments,” he said.

He added that MPIC and parent firm First Pacific Group of Hong Kong are still awaiting the result of the bidding for the Dau Giay-Phan Thiet motorway project.

The MPTC president said MPIC is also looking for opportunities in Thailand as part of efforts to diversify its investments.

“The funds cannot wait for projects. We need to diversify in other countries,” he said.