The Cebu Cordova Link Expressway Signing Ceremony
Congratulations to Cebu-Cordova Link Expressway Corporation (CCLEC), a subsidary of Metro Pacific Tollways Corporation (MTPC), for the completion of funding the Cebu Cordova Link Expressway (CCLEX), an 8.5km toll bridge project that will connect Cebu City to the municipality of Cordova. The building of Cebu's third bridge is of the biggest infrastructure projects in the Philippines, to be completed in 2021.
The Signing Ceremony for its P19 Billion Term Loan Facility took place last February 7, 2019 at Pacific Grand Ballroom, Waterfront Cebu City Hotel and Casino, securing P19 billion syndicated loan facility. CCLEC signed a 15-year omnibus loan and security agreement with Rizal Commercial Banking Corporation, Development Bank of the Philippines, Robinsons Bank Corporation, Union Bank of the Philippines, Bank of the Philippine Islands, and Security Bank Corporation. The event's presence was graced with the Cebu City and Cordova local government, including honorable guests Vice-Mayor Edgar Labella and Mayor Teche Sitoy Cho, financial consultants, stakeholders, and bank companies. Guests were donned in their suits, looking sharp and professional, all ready to celebrate the success of securing a budget for the fast track of the project's construction.
The Cebu-Cordova third bridge being a project with the municipality of Cordova, former vice-mayor Adelina Sitoy says "I have been dreaming of this project since I was 53 years old, and at last it has become a reality." Rodrigo Franco, the president of MPTC expresses how this project is expected to help economic growth and transform the landscape of Cebu. Allan Alfon, President of CCLEX, shares he and his team are more confident than ever in delivering the 30-billion iconic bridge project to the Cebuanos and stakeholders.