SCTEX SELL-OFF: GOVERNMENT MULLS 50% STAKE SALE TO MPTC FOR OVER P20 BILLION
The Bases Conversion and Development Authority (BCDA) is considering selling its 50-percent stake in the Subic-Clark-Tarlac Expressway (SCTEx) to the Metro Pacific group for over P20 billion.
This move would allow BCDA to pay off debts and generate substantial revenue.
Joshua Bingcang, BCDA’s President and CEO, disclosed that the Metro Pacific Tollways Corp. (MPTC) has shown interest in acquiring BCDA’s shares in the 93.77-kilometer expressway.
The proposed transaction involves prepayment of future shares for the remaining 22 years of their concession, with revenue sharing set at 50:50 from tollway operations.
A technical working group has been established to finalize the valuation, with completion expected by next month.
PhilNews24 | May 11, 2024
