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

  • Kenya rehabilitates, widens, tolls Northern Corridor
    November 8, 2017
    A massive highway project in Kenya will boost transport for the country as well as its neighbours - Shem Oirere reports. Kenya has commenced the process of rehabilitating, expanding and tolling of 657km of East Africa’s Northern Corridor that is anchored on the Indian Ocean port of Mombasa and which links the gateway with landlocked countries of Uganda, Rwanda, Burundi and parts of eastern Democratic Republic of Congo (DRC).
    Read More
  • Almost gone: Canada’s old Port Mann Bridge deconstructed
    August 14, 2015
    Three years ago a welder’s cut halved Canada’s old Port Mann Bridge. David Arminas reports from the banks of the Fraser River. By the time this issue of World Highways reaches you, one of Canada’s iconic steel arch bridges will be a shadow of its former self. It’s been a three-year demolition job since the first cut across the deck of the old Port Mann Bridge just outside the city of Vancouver on Canada’s Pacific coast. A new 10-lane 2.2km Port Mann Bridge opened in 2012 (see box). It runs parallel to the o
    Read More
  • ACE/AECOM report: private sector and user-pay for English roads
    May 14, 2018
    It’s one minute to midnight for funding England’s roads, according to a timely new report, and the clock’s big hand is pointing to some form of user-pay solution, reports David Arminas Is there any way out of future user-pay funding for England’s highway infrastructure? The answer is a resounding ‘no’, according to the recently published report: Funding Roads for the Future. The brief 25-page document by the London-based Association for Consultancy and Engineering, ACE**, sums up the state of England’s ro
    Read More
  • Kenya develops annuity road funding model
    May 8, 2015
    Kenya is introducing novel methods for funding its necessary road infrastructure development - Shem Oirere writes. Kenya has unveiled a new financing model for road construction and reviewed its design standards and construction methodologies, which forms part of a new strategy for the East African country. Under this new plan Kenya is planning to upgrade 10,000km of road, with these links featuring asphalt surfacing; the work being carried out over the next five years at a cost of US$2.8 billion. Despite t
    Read More

Highlighted Content