THE SCTEX: Would you believe this world-class expressway was constructed at no cost to government?
Posted: July 25, 2011 | Category: SCTEX
THE SUBIC-CLARK-TARLAC EXPRESSWAY
Would you believe this world-class expressway was constructed at no cost to Government?
The SCTEX Business and Operating Agreement signed between the Bases Conversion and Development Authority (BCDA) and the Manila North Tollways Corporation (MNTC) provides Government with sufficient funds to meet its entire P34 billion debt obligations to the Japan International Cooperation Agency (JICA) through revenue sharing and advances during shortfall.
By virtue of this Agreement, the SCTEX can be considered as having been built at no cost to the Government. The privatization of the management, operations and maintenance of SCTEX is a major breakthrough towards establishing a good model for public-private partnership (PPP) which is vigorously pushed by the Aquino administration as a linchpin of national economic development.
Having been relieved of the heavy debt service obligations, BCDA can now embark on a new PPP project in support of the infrastructure program of President Benigno Aquino III.
We did it before, we can do it again!