MPI tollway unit to do cashless payments

MPI tollway unit to do cashless payments 1

Metro Pacific Tollways Corp (MPTC) is the tollways unit of Metro Pacific Investments Corp. (MPI), one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc. The company has submitted a proposed roadmap to the Transportation department for the full execution of e-payment or cashless payment on all its toll roads.

J. Luigi L. Bautista, president of Metro Pacific Tollways North, a unit of MPTC, at a virtual meeting on June 13. “We have been actively talking to DoTr (Department of Transportation) and DPWH (Department of Public Works and Highways) in relation to contactless passage. We submitted a proposal last May 26 already, which details the roadmap to execute 100% cashless transactions for our expressways,”

“They are very supportive. We are just sorting out some final details.” He added.

“The first phase is 100% RFID in the five to six months; phase two will be the interoperability with the other expressways which can happen in the next 12 months; and phase three is the free flow already, which is what they call open-road tolling, and this can happen in the next two to three years,” Mr. Bautista said.

“In the case of private cars, there is no mandate yet,” he said.

He added that only 30% to 35% of vehicles that pass through the MPTC’s toll roads are equipped with RFID.

MPI tollway unit MPTC operates North Luzon Expressway, Subic Clark Tarlac Expressway, and Cavite Expressway. Source..

Metro Pacific Investments Corporation is listed in the Philippine Stock Exchange as $MPI and as of June 19, 2020, 03:30:00 PM, its last traded price is PHP 3.79 +5.57% higher than its previous close of PHP 3.57 with 156M value traded that day.

The Company’s subsidiaries are Manila Electric Company; Global Business Power Corporation; Metro Pacific Tollways Corporation; Maynilad Water Holding Company, Inc.; Metro Pacific Hospital Holdings, Inc.; Metro Pacific Light Rail Corporation; and MetroPac Logistics Company, Inc.

-Stockbytes PH, June 22, 2020

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MPI tollway unit