The Toll Regulatory Board (TRB) has announced that toll rates for the Muntinlupa-Cavite Expressway (MCX) will be increased by an additional P1. This increase, which was approved by the board on January 5, 2024, is expected to be implemented by the end of January or the first week of February.
The previous toll increase for MCX took effect on November 3, 2023. At that time, the rates were raised by P1, making it P18 for Class 1 vehicles, P37 for Class 2 vehicles, and P55 for Class 3 vehicles.
It’s important to note that the toll increase was a result of the petitions for toll rate adjustments filed by the former owner of MCX, Ayala Corp. These petitions were made for the years 2018 and 2020. Prime Asset Ventures Inc., a company led by the Villar Group, acquired the 4-kilometer MCX from Ayala Corp. for P3.8 billion in August of last year.
MCX is a controlled-access toll road that connects the southern part of Cavite to Muntinlupa. It is the first public-private partnership project under the Aquino 3rd administration. Ayala Corp. signed a 30-year concession agreement for the operation of MCX Expressway in 2012. The company invested P2.2 billion in the project, which included a P902 million cash payment to the government.
This recent toll rate increase for MCX is part of the ongoing efforts to maintain and improve the expressway’s infrastructure. The additional revenue generated from the increase will be used for the upkeep and enhancement of the road, ensuring a smoother and safer travel experience for motorists.
While toll rate increases are often met with mixed reactions from the public, it’s important to understand that they are necessary for the continued operation and maintenance of toll roads. These fees contribute to the overall funding of infrastructure projects and help ensure the sustainability of the transportation system.
It is worth noting that toll rates for expressways can vary from country to country, depending on factors such as distance, maintenance costs, and government regulations. In many countries, toll roads are a common means of financing and maintaining highways, allowing for faster and more efficient travel for motorists.
In conclusion, the Toll Regulatory Board has approved a P1 increase in toll rates for the Muntinlupa-Cavite Expressway (MCX). This increase, which is expected to be implemented by the end of January or the first week of February, will contribute to the ongoing maintenance and improvement of the expressway. While toll rate increases may be met with mixed reactions, they are necessary for the sustainability of the transportation system and the overall enhancement of the road infrastructure.
Source: The Manila Times
