AFTER a series of talks, the Bases Conversion and Development Authority (BCDA) and Manila North Tollways Corp (MNTC) signed an agreement allowing the latter to operate the Subic-Clark-Tarlac Expressway (SCTEX) in the Philippines.
BCDA earlier reportedly wanted to cancel the contract due to “money points”.
Under the agreement, MNTC will operate and manage SCTEX for 33 years and pay BCDA’s debt to the Japan International Cooperation Agency (JICA) for the building of the expressway. The JICA loan will mature in the year 2041.
Specifically, MNTC will manage operations of and supervise the tollway linking Subic Freeport Zone in Zambales, Clark Special Economic Zone in Pampanga, and the Central Techno Park in Tarlac, all north of Manila.
MNTC will also provide all ancillary facilities and equipment, plus resources needed to run SCTEX efficiently, including assuring security and safety of motorists on the tollway on a 24/7 basis.
