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AUSPHIL
Tollways Corp., the proponent of the North Luzon East
Expressway (NLEE) project, expects its P13.6-billion
tollway project to generate gross revenues of about P3
billion every year.
Ausphil
is a local firm that has partnered with French
construction giant Egis Projects to build a
54.9-kilometer elevated expressway from Quezon City to
Baliwag in Bulacan. The project costs P7.8 billion.
The
project has a power component that includes several
low-friction hydroelectric-turbine stations capable of
initially generating up to 35 megawatts (MW) of power,
with a future additional capacity of 80 MW. It will
also include water catchments and filtration ponds that
can collect and distribute 15.2 million cubic meters of
swale filtered water for future use.
“The
total project cost will amount to P13.6 billion,” said
Ausphil president Ricardo Penson during Tuesday’s press
briefing. “The power component of the project will cost
over P1 billion.”
He said
Ausphil has secured a permit to produce power from the
energy department two years ago. The license will be
awarded once Ausphil finishes construction of the power
facility.
“It is
looking like that,” said Penson, when asked if the
company is also into the power business. “But the power
component of the project is a beneficial opportunity to
the entire project.”
The
remaining amount goes to the construction of the
pipeline that will be used for the collection and
distribution of the swale filtered water.
Penson
said all three components of the project will be carried
out simultaneously. “The power and the water components
of the project are all integrated in the tollway
project. With a 35-MW hydroelectric power plant, that
will generate for us about P1 billion in revenue, while
the toll-road business will probably generate P2
billion. Of which, the MWSS [Metropolitan Waterworks and
Sewerage System] gets 10 percent of that,” he said.
Ausphil
and MWSS have signed a contract lease for use of 21-km
rights of way for a fixed rate during construction, plus
revenue sharing the 30 years of commercial operation of
the tollway.
Penson
said the tollway project also seeks to address power and
water shortages by providing the potential to
immediately generate renewable energy.
The
build-operate-transfer project was awarded to Ausphil in
May last year. The company expects to receive its notice
to proceed in June this year.
The
awarded facility will be constructed in two stages. La
Mesa Parkways, or Stage 1, will run 18.9 km from
Commonwealth Avenue
to Bigte, Norzagaray, north of San Jose del Monte.
Much of
the construction will be within the MWSS corridor but
will adhere to the MWSS charter. About one-fourth will
be elevated.
Stage 2
involves the rehabilitation of 36-km road from
Norzagaray to Baliwag converting the current two-lane
road into a four-lane highway.
Ausphil
said the NLEE will reduce travel time between Metro
Manila and northeast suburban areas. In 2000 traffic
load in the area was estimated at 52,000 vehicles daily.
By 2010, it is expected to peak around 89,000.
Road
fees are pegged at P80 for the whole stretch.
Egis
will play a major role as the operations and maintenance
partner through La Mesa Parkways Corp. Egis builds roads
in Asia.
Its
subsidiary, Egis Road Operation and Tollways Management
Corp., is part of the consortium led by First Philippine
Holdings Corp. that won the right to operate the
Subic-Clark-Tarlac Expressway.
Ausphil’s Australian associates include Aspen
International, which supplies toll equipment and other
road systems; and the Macquarie bank group, which acts
as financial adviser. Baseline Consultants and
Integrated PhilConsult completed much of the early
engineering design. Final detail engineering will be
provided by Schema Technics. |
