Metro Pacific Tollways Corp. is carefully considering expanding its reach into Vietnam, a market where past investments have already yielded significant returns.
According to the company’s President and CEO, Gilbert F. Santa Maria, they are actively watching for opportunities to acquire existing toll road assets within the country, should a compelling offer arise.
Currently, MPTC isn’t making new investments in Vietnam, preferring to benefit from the ongoing dividend streams generated by its current toll operations there. However, they remain deeply engaged with Vietnam’s infrastructure development plans.
MPTC’s presence in Vietnam is established through its 45% stake in CII Bridges and Roads Investment Joint Stock Co. (CII B&R), a key player in the nation’s transportation network.
CII B&R is currently focused on expanding the Ho Chi Minh City-Trung Luong-My Thuan Expressway, a crucial 96-kilometer project designed to dramatically improve connectivity in southern Vietnam.
Earlier this year, the company also signaled its interest in bidding for four major infrastructure projects in Vietnam, representing a potential investment of $1.65 billion.
Expansion isn’t limited to Vietnam; MPTC is also making significant strides in Indonesia, working with partners to develop an elevated toll road along the Jakarta Outer Ring Road.
This follows a substantial $1-billion investment finalized in 2024, securing a 35% stake in PT Jasamarga Transjawa Tol (JTT), a leading Indonesian toll road operator, alongside GIC Pte. Ltd. of Singapore.
To fuel these ambitious projects and manage its financial obligations, MPTC recently raised P20 billion through fixed-rate bonds.
These funds will be strategically allocated to the construction and upkeep of vital infrastructure, including the Manila-Cavite Expressway, Cavite-Laguna Expressway (CALAX), and Lapu-Lapu Expressway (LLEX), as well as debt refinancing.
A key priority for MPTC is reducing its current net debt, which stands at approximately P200 billion, ensuring a strong financial foundation for future growth.
MPTC operates as a core subsidiary of Metro Pacific Investments Corp. (MPIC), which is, in turn, part of the Hong Kong-based First Pacific Co. Ltd. alongside Philex Mining Corp. and PLDT Inc.
