METRO Pacific Tollways Corp. (MPTC), through its Vietnam-based affiliate, is boosting its regional presence with the expansion of the Ho Chi Minh City–Trung Luong–My Thuan expressway this September.
CII Bridges and Roads Investments Joint Stock Co. (CII B&R), where MPTC holds a 45 percent stake, has been tapped to directly implement the 39.8 trillion dong (about $1.53 billion) second phase of the expressway, following a special directive from the Vietnamese government to fast-track the project.
In a media interview on July 14, 2025 at CII headquarter in Ho Chi Minh, Vietnam, Le Trung Hieu, director of Capital Management, said “although these types of projects are typically subject to competitive bidding, the government has chosen to accelerate progress and intends to appoint CII directly as the investor.”
The expansion project involves construction of around 96 kilometers of expressway, linking Ho Chi Minh City to My Thuan via Trung Luong, and will include additional works on the segment north of the My Thuan 2 Bridge in Tien Giang Province.
The project is expected to boost transport connectivity in southern Vietnam.
Hieu said the majority of the project’s capital expenditure will be disbursed across 2026 to 2028, while this year’s allocation will primarily fund site preparation and initial works.
This year’s spending will focus mainly on site preparati on and pre-construction activities. “We don’t need a lot of capex this year—just enough to kickstart the project,” Hieu added.
The expansion is classified as a Group A special-level transport project, with an estimated 23.5 trillion dong ($899.09 million) allocated for construction and equipment, ₫4.4 trillion ($168.34 million) for land clearance, and 4.8 trillion dong ($183.64 million) to cover loan interest during the construction period.
CII is funding the project through a capital mix of 15 percent equity and 85 percent loans, with borrowing costs averaging 10.75 percent annually.
MPTC’s participation in CII aligns with its broader regional strategy, which includes strategic toll road investments across Vietnam and Indonesia.
In the Philippines, MPTC operates various expressways including North Luzon Expressway, Subic Clark Tarlac Expressway, Manila-Cavite Toll Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), Cebu-Cordova Link Expressway (CCLEX) and the NLEX Connector.
