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

  • Volvo CE sees strong third quarter results
    October 20, 2017
    Volvo CE is bullish and claims a strong financial performance in its third quarter sales figures. The company claims it has made market share gains in key segments while its financial results have also benefited from good cost control and growing demand in most areas. Volvo CE says it has had an especially strong third quarter for 2017 with sales up 34% to US$1.847 billion (SEK15.1 billion) compared with $1.41 billion (SEK11.54 billion) for the same period in 2016. Meanwhile order intake for the third quart
    Read More
  • Trimble helps bring Indonesia up to speed on the latest heavy construction technology
    March 28, 2014
    Indonesian infrastructure investment is seeing major highway expansion - Simon Gould writes Over the next 12 years, Indonesia has planned some massive infrastructure investments, under a master plan aimed at bringing it up to developed country status by 2025. Its Government’s Masterplan for Acceleration and Expansion of Indonesia's Economic Development (MP3EI) envisages infrastructure spending of US$400 billion between 2011 and 2025 to help achieve this (see sidebar for more on MP3EI). With limited funds of
    Read More
  • Vietnam’s highway network is expanding
    August 1, 2018
    Vietnam is expanding its road and highway network with a series of major projects, as well as numerous upgrades to rural roads. A funding deal worth US$1.6 billion is being provided by the Asian Development Bank (ADB) for the Ben Luc yo Long Thanh National Highway. This route connects Dong Nai, Ho Chi Minh City and Long An. A portion of the necessary funding for ground clearance for the route is being provided by Vietnam’s State Budget. However the country is stopping work on the National Highway 3 project
    Read More
  • New bridges in the Philippines
    September 23, 2022
    New bridges are planned to improve links to Mactan Island in the Philippines.
    Read More

Highlighted Content