CEBU, Philippines —The Cebu-Cordova Link Expressway (CCLEX) is projected to raise as much as P2 million from toll collection daily once mobility in the province rebounds as a result of a property race and tourism recovery.
CCLEX, the architectural pride of Manuel V. Pangilinan’s Metro Pacific Group, has yet to reach its full capacity in terms of daily traffic and toll income as businesses are slowly resuming their operations and tourism is only starting to pick up.
CCLEX Corp. president and CEO Allan Alfon said the 8.5-kilometer bridge – the longest in the Philippines – raises at least P1 million from some 12,500 motorists passing each day since it opened in April.
However, Alfon said CCLEX expects daily traffic to rise to 20,000 by December, when travel activities in Cebu could peak due to the holiday influx of tourists. At that rate, he estimates toll revenue to hit P2 million a day, with rates of P90 for Class 1, P180 for Class 2 and P270 for Class 3.
Further, construction activities in Cebu should bring about increased trade and commerce within the cities and municipalities that CCLEX services.
Among these is Dennis Uy’s PH Resorts Group Holdings Ltd., which is building Emerald Bay, a 13.5-hectare hotel and casino in Lapu-Lapu City.
Uy plans to spend as much as $704 million – $238.5 million for the first phase and $465.4 million for the second phase – in completing Emerald Bay with the target of opening it by the first quarter of next year.
Also, Cebu-based Benedict Ventures Inc. is putting up a five-tower condominium in Cordova called Balai by BE Residences to add to its portfolio of upscale residential projects.
“A lot of construction are being started in Cordova. We believe that this provides a sustainable volume for traffic to increase. Once you have more construction in Cordova and in the island of Mactan, then we would have more motorists coming from Class 2 during the construction,” Alfon said.
CCLEX said it is hopeful the provincial government of Cebu would approve its proposal to spend P1 billion to open an entry and exit ramp toward the mouth of the Guadalupe River. Alfon said the Guadalupe ramp would provide ease of access for construction activities in the business district.
He said building the Guadalupe ramp can add as many as 12,000 motorists to the daily traffic in CCLEX. The additional traffic will contribute to CCLEX’s goal of reaching 40,000 motorists passing through the bridge every day by 2024.
“To be honest, we are just waiting for the Cebu City government to come up with the ordinance,” Alfon said.
CCLEX Corp., a subsidiary of Metro Pacific Tollways Corp., the toll road development division of Pangilinan-led Metro Pacific Investments Corp., oversees the cable-stayed bridge via a joint venture with the local governments of Cebu City and Cordova.
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The article was originally published in PhilStar Global and written by Elijah Felice Rosales.
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