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

  • Italian manufacturer body Unacea reveals machine exports
    October 31, 2014
    The Italian construction equipment manufacturer body Unacea has revealed comprehensive information on machine sales and exports. The data shows that construction machine sales in Italy grew 12% in the first nine months of 2014. However exports fell 7% and Unacea believes that the export performance of Italian manufacturers on the world market will have shrunk by the end of the year compared with the figures for 2013. Over the first nine months of 2014, construction equipment sold in the Italian market sto
    Read More
  • Q2 sales down but market share up for Volvo Construction Europe
    July 19, 2016
    Volvo Construction Equipment reports share growth as overall market declines in Q2. Lower demand in most markets outside Europe weighed on Volvo CE’s second quarter 2016 revenue. But this was partially offset by gains in market share in the heavy equipment segment, according to a written statement from the Swedish manufacturer. Adjusted for currency movements, Volvo CE reported net sales down 7% in the second quarter of 2016, impacted by lower demand in most markets outside Europe. Weaker machine sal
    Read More
  • Key developments for tyre market
    January 19, 2016
    Key developments in the tyre market will allow certain firms to reposition themselves - Mike Woof writes. New tyre types are now coming to market, while key business developments will allow some firms to reposition themselves. Perhaps the biggest business development in the market is the deal to acquire the privately-owned Czech firm CGS Holding by Trelleborg in a move worth €1.1664 billion (SEK10.9 billion). The finalisation of the deal is subject to approvals from the competition authorities but should be
    Read More
  • India’s massive demand for construction machines
    June 17, 2016
    India is the new focus for the world construction industry market. In 2015 there was a change in perspective in Asia, with demand for machines in China dropping in terms of construction growth. India posted growth of 5.3% during 2015, while China achieved growth of 4%. This change at the top has been confirmed by the SaMoTer-Verona Outlook. This is a construction sector observatory group set up in partnership with Prometeia, the international economic consulting and research firm, with the support of Una
    Read More

Highlighted Content