Manila North Tollways Corporation

• Main Author: Dulatre, Ronald T.
• Format: text
• Language: English
• Published: Animo Repository 2007
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/4456
• Institution: De La Salle University

Manila North Tollways Corporations (also known as MNTC) was incorporated on 4 February 1997. MNTCs purpose is to engage in, and carry on, a construction and contracting business involving tollways, its facilities, interchanges and related works, including the operation and maintenance thereof, or otherwise engage in any work upon roads, highways, bridges, buildings and structures of all kinds. Pursuant to the Supplemental Toll Operation Agreement (or STOA), MNTC was granted the concession to finance, design, construct, rehabilitate, expand, operate and maintain the North Luzon Expressway (or NLEX) Project for the concession period from 15 June 1998 to 31 December 2030. With leading local and international companies as shareholders, MNTC is committed to quality control, good governance, and environmental responsibility throughout the development, construction, and operation and management phases of the NLEX Project. MNTCs outstanding common shares are 67.1% owned by First Philippine Infrastructure Development Corporation (FPIDC). The other common shareholders are Leighton Asia Limited (LAL) (16.5%), Egis Projects S.A. (EGIS) (13.9%), and Philippine National Construction Corporation (PNCC) (2.5%). FPIDC was incorporated in 1994 and is owned by Benpres Holdings Corporation(26%) and First Philippine Holdings Corporation (74%). LAL was established in 1975 and is one of the first Australian companies to establish operations in Southeast Asia. EGIS is the investment and development arm of Group EGIS and has participated in over 24 toll road projects in 13 countries in various capacities. PNCC was incorporate in 1966 and is majority-owned by government financial institutions.