TODAY'S BUSINESS HEADLINES

PSE shareholders clear capital increase, transfer to BGC

Creation of high-quality jobs rests on private sector -- NEDA

Sarah Jessica Parker inaugurated 'illegally' built SM mall, BCDA says

Amid growing number of cancellations, CAB orders Cebu Pacific, PAL Express to reduce flights

Stock market seen to resume climb this week on return of bargain-hunters

DPWH proposes Swiss challenge to Metro Pacific, Citra plans for connector road

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MANILA, Philippines - The Aquino administration will approve two separate private-sector proposals to build expressways linking the north and south of Metro Manila, the Department of Public Works and Highways (DPWH) said on Wednesday.

Secretary Rogelio Singson said the agency will endorse the unsolicited proposals lodged separately by Metro Pacific Tollways Development Corp. (MPTDC)  and Citra Metro Manila Tollways Corp. (CMMTC).

"Our recommendation is to let them proceed. But it will have to go to a Swiss challenge. We considered them both unsolicited," Singson told reporters on the sidelines of the 45th Annual Meeting of the Asian Development Bank Board of Governors.

Singson said DPWH submitted its recommendation to President Benigno Aquino III two weeks ago. 

MPTDC plans to construct a 13-kilometer expressway linking the North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX). The P17-billion connector road would run along the tracks of state-owned Philippine National Railways (PNR).

San Miguel Corp.-backed CMMTC’s proposal, on the other hand, calls for a 14-kilometer, six-lane tollway that will have exists in Quirino, Manila and Plaza Dilao, Aurora Boulevard, E. Rodriguez Ave., Quezon Boulevard, Sgt. Rivera, and Balintawak in Quezon City.

 

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