MPIC acquires infrastructure developer in Vietnam

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MPIC acquires infrastructure developer in Vietnam

Metro Pacific Tollways Corporation (MPTC), the toll road unit of Metro Pacific Investments Corp (MPIC), has completed its investment in Vietnamese CII Bridges and Roads Investment Joint Stock Company (CII B&R). 

MPTC now holds a significant minority equity interest equal to about 45% of the outstanding capital of CII B&R through a combination of purchase of CII B&R secondary shares from Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), and subscription to VND-denominated bonds issued by CII, which are exchangeable into secondary shares in CII B&R.

CII B&R, one of the largest private infrastructure development firms in Vietnam, is a toll road company located in Ho Chi Minh City. The firm has a 123 km road portfolio that includes eight toll road and bridge projects.

The company has a total of:

  • five operational projects: New Rach Chiec Bridge project; Phan Rang - Thap Cham Bypass (Phase 1) build-operate-transfer (BOT) project, DT741 road project, Sai Gon 2 Bridge build-transfer project and Rach Mieu Bridge (Phase 1) BOT project.
  • two projects under construction: Ha Noi Highway Expansion BOT project and expansion of National Highway 1A BOT project.
  • one project in the pipeline, the Binh Trieu 2 Bridge (Part 2 - Phase 2) BOT project.

Yesterday we reported that MPIC was among the companies shortlisted for Philippine's bundled airports PPP projects, which is divided into two bundles: Package A, which includes Iloilo and Bacolod-Silay airports, and Package B, which includes the Davao, Laguindingan, and New Bohol (Panglao) airports.

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