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Cavitex gives up P300 M from toll holiday
The Philippine Star
|July 31, 2024
The Metro Pacific Group has given up about P300 million in revenues by relieving up to 5.4 million motorists of toll charges for 30 days at the Manila-Cavite Toll Expressway.
The CAVITEX Infrastructure Corp. (CIC), a subsidiary of Metro Pacific Tollways Corp., will resume collecting fees at CAVITEX today, ending a 30-day toll holiday in all of its exits.
CIC president and general manager Raul Ignacio said the free toll program benefitted up to 180,000 motorists daily, with the company surrendering revenues of at least P300 million in the process.
"Average daily traffic for this month reached 180,000. As such, forgone revenues will amount to approximately P300 million," Ignacio told The STAR yesterday.
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