Metro Pacific Investments : MPIC Bridges the Gap for Cebu-Cordova’s Economic Growth

MPIC Bridges the Gap for Cebu-Cordova's Economic Growth

Set To Complete the Country's Largest P30B Water-Crossing Infrastructure

Makati, Philippines, 15th October 2021- Metro Pacific Investments Corporation (MPIC) maintains its crucial role as a reliable partner in nation-building, reaching a major construction milestone for its P30B Cebu-Cordova Link Expressway (CCLEX) this month.

CCLEX, MPIC's first toll road project outside Luzon, has finally closed the two-meter gap that separated the main bridge decks of Towers 1 and 2. Despite unprecedented challenges brought upon by the pandemic, the major construction feat now successfully connects the modest town of Cordova in Mactan Island to Cebu City, providing an alternative route to decongest the traffic-choked channels that preceded it.

Implemented through Cebu-Cordova Link Expressway Corporation (CCLEC), a wholly owned subsidiary of its toll road arm, Metro Pacific Tollways Corporation, CCLEX becomes an integral component in MPIC's goal towards progress for the whole country. Beyond the reduction of traffic and the improvement of accessible travel, the project is expected to positively impact trade activities and create larger economic opportunities for Cebu and the rest of the Visayas region.

An Iconic Bridge

In partnership with the local government units of Cebu City and the Municipality of Cordova, the complex project spanned more than three years of non-stop construction, now cited as an "engineering marvel" and expected to become a tourist attraction within itself.

"It is with pride that we commemorate this milestone for CCLEX, given the current circumstances that could have easily hindered our progress," said MPIC President and CEO Jose Ma. K. Lim. "Through the resolve of all sectors involved, primarily MPTC and CCLEC, we are gradually reigniting the economy of one of the most dynamic metropolitan areas in the country. It is a strategic step towards spurring industrial growth all throughout the Visayas region."

CCLEX measures 8.5 kilometers long and rises 51 meters from sea level, poising it to become the country's largest water-crossing infrastructure. The bridge is built with a navigational clearance to allow large vessels to safely traverse a path underneath the bridge.

The bridge expressway will have two lanes in each direction and will feature the main twin cable-stayed bridge, viaduct approach bridges, a causeway, and toll facilities. Spanning eight kilometers from the mouth of the Guadalupe River to Shell Island and then Cordova, the project will connect mainland Cebu to the Municipality of Cordova and is expected to serve at least 50,000 vehicles daily.

The 8.9-kilometer CCLEX will be open to the public for commercial operations in the first quarter of 2022. The bridge will be using a full electronic toll collection system and is fitted with several state-of-the art equipment, including a Road Weather Information System that provides weather watches and warning for public safety.

A Good Pull for Investments

MPIC's investment in the region has continuously been cited as an integral factor in the municipality's rapid economic development. Akin to what the conglomerate has done for Metro Manila, the bridge project is effectively set to help in the daily lives of Cebuanos.

Preceding its completion, CCLEX is already generating positive economic growth for the municipality of Cordova, exhibited by the significant rise in land prices within the proximity of the project site. Prices have reached P5,000 per square meter in January 2020, a drastic leap from the P500 per square meter at most before the start of construction in 2018.

This dramatic boom in real estate value within a short time span, directly increased the Cordova's demand in the market. A good pull for investments, this attracted the attention of several of the country's biggest conglomerates including Ayala Corporation, SM Prime Holdings Inc., and the Gokongwei Group. The economic growth, partially brought about by the opening of CCLEX, has incited the need for business owners in Cordova to create their own chamber of commerce organization.

In 2019, business stakeholders were initiating moves to groom Cordova as the 'Sentosa' of Cebu.Similar to the island resort off Singapore's southern coast, Cordova was set to become the "crown jewel" of tourism and business in Metro Cebu.

"The influx of infrastructure brought about by the completion of CCLEX is already generating socio-economic impacts that truly benefits all our constituents," said Cordova Mayor Mary Therese "Teche" Sitoy-Cho. "We are grateful for the work that MPIC and their tollways arm has dedicated into helping us achieve our goal of becoming a more advanced and smart municipality. Aside from improving the convenience of travel, this project has been integral in creating more employment opportunities and uplifting our local tourism as another means of livelihood for our community."

Linking Progress and Purpose

Beyond the infrastructural advancement that the bridge's construction entails, CCLEX has become an avenue for the socio-economic development of its fenceline communities, all while integrating an environmentally conscious approach to its blueprint.

CCLEX was built as a "fishermen's bridge" with additional clearance and channels designed into the structure to give local fishermen and their boats access to their traditional fishing grounds. When over 380 fisherfolks from Barangays Bangbang and San Miguel in Cordova town were required to temporarily cease their operations to allow for the filling activities for the causeway segment, CCLEC ensured the appropriate compensation, providing financial assistance and rice for them and their families.

The bridge was carefully designed and built to protect the existing 278-hectare mangrove ecosystem. With Metro Pacific Investments Foundation (MPIF), MPIC, and the Cordova LGU, CCLEC inaugurated its Mangrove Propagation and Information Center in Barangay Day-as, as part of MPIF's flagship environmental program, Shore It Up!

As its legacy project for the entire country, the two-storey facility shall serve as the center for the protection and propagation of mangrove trees in the coastal areas, including the rehabilitation of degraded mangroves in the whole Municipality of Cordova. It will also be an information hub to let locals and visitors appreciate the importance and benefits of mangroves in the ecosystem. The Mangrove Center directly employed four Cordova locals to serve as mangrove eco-guides in the Centers.

"MPIC is driven forward with the mindset that we cannot operate our businesses with just profit in mind. More importantly, we must be driven by purpose - by always doing good while doing well," said MPIC Chief Finance Officer and Chief Sustainability Officer Chaye Cabal-Revilla. "Becoming a partner in nation-building not only entails infrastructural progress but becoming a catalyst in uplifting the lives of all Filipinos."

The completion of CCLEX is aligned with MPIC's commitment to contribute to the United Nations Sustainable Development Goals (SDGs), primarily SDG 8 Decent Work and Economic Growth, 9 Industry, Innovation, and Infrastructure, 11 Sustainable Cities and Communities, and 17 Partnerships for the Goals.

About MPIC

MPIC is a leading infrastructure investment company with holdings in Manila Electric Company, Maynilad Water Services, Inc., MetroPac Water Investments Corporation, Metro Pacific Tollways Corporation, Metro Pacific Hospital Holdings Inc., Light Rail Manila Corporation and mWell PH.

The Company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.

MPIC and its group of companies are making a difference in the lives of millions of Filipinos, powering commerce and households, connecting people and places, delivering clean and safe water, and making world-class healthcare available to all.

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