Metro Pacific Tollways eyeing investment in Vietnam’s Ho Chi Minh City

Philippines-based Metro Pacific Tollways is mulling offers to invest US$600 million in a project in Vietnam’s Ho Chi Minh City. Metro Pacific Tollways president Ramoncito Fernandez said that the investment would be made through the company’s CII Bridges and Roads Investment Joint Stock Co. (CII B&R). “We are being offered new projects in Vietnam. We are now are evaluating a new project that will connect Ho Chi Minh to outskirts,” said Fernandez, without naming the project. Early this year, Metro Pacific
May 15, 2015 Read time: 2 mins
Philippines-based 3195 Metro Pacific Tollways is mulling offers to invest US$600 million in a project in Vietnam’s Ho Chi Minh City.

Metro Pacific Tollways president Ramoncito Fernandez said that the investment would be made through the company’s CII Bridges and Roads Investment Joint Stock Co. (CII B&R).

“We are being offered new projects in Vietnam. We are now are evaluating a new project that will connect Ho Chi Minh to outskirts,” said Fernandez, without naming the project.

Early this year, Metro Pacific Tollways, part of infrastructure conglomerate 5815 Metro Pacific Investments, made its first investment in Vietnam when it acquired a 45% interest in CII Bridges for $90 million. CII Bridges is involved in road projects in and around Ho Chi Minh, includes 17km of roads carrying 38,000 vehicles per day.

“CII is the right partner that is holding right now a good portfolio of existing roads plus potential projects in their own concession. So we are happy with the partnership and the portfolio it brings with it,” Fernandez said.

MPIC also reported net income in the first quarter 2015 was up 4% to nearly $53.9 million. Net income bounced even higher, reaching 14%, up from $49.3 million to nearly $58.4 million.

MPIC said higher income was due mainly to strong traffic growth on all roads it operates and an increased shareholding in the local Manila North Tollways Corp.
Finance & Funding

For more information on companies in this article

Related Content

  • Terex looks for internal growth and strong margins
    January 6, 2017
    Terex Corporation chairman and CEO Ron DeFeo is predicting strong growth over the next three years, with the aim of US$10bn revenues by 2015, up from $7.3bn in 2012. However, unlike so often in the past, he is not looking for acquisition but to develop the existing business. Indeed, the company has recently sold off much of its road construction business, as it was struggling to expand that division.
    Read More
  • Terex looks for internal growth and strong margins
    April 17, 2013
    Terex Corporation chairman and CEO Ron DeFeo is predicting strong growth over the next three years, with the aim of US$10bn revenues by 2015, up from $7.3bn in 2012. However, unlike so often in the past, he is not looking for acquisition but to develop the existing business. Indeed, the company has recently sold off much of its road construction business, as it was struggling to expand that division.
    Read More
  • Saudi Arabian capital Riyadh benefiting from major transport investment
    September 9, 2013
    Saudi Arabia is undergoing a series of upgrades to its transport network in a bid to improve Traffic flow rates and boost safety - Mike Woof reports. The massive growth in the use of motor transport worldwide since the start of the 20th century has transformed every country on the planet. But perhaps no country has changed more dramatically than Saudi Arabia, the world’s leading oil producer. At the start of the 20th century Saudi Arabia’s population was small and the country had few industries while it is
    Read More
  • Ammann’s passage to Indian market
    April 4, 2013
    Ammann and Gujarat Apollo Industries Ltd (GAIL) have signed binding agreements which will see Ammann Group pay just under US$59 million to acquire a 70% share in the Indian company’s plant and machine business. GAIL’s core products include road pavers, asphalt mixing plants, bitumen sprayers and compaction machines. The joint venture is seen by the Ammann Group as underscoring its global growth strategy while heralding its entry into the Indian road building equipment market, tipped for strong growth thank
    Read More

Highlighted Content