Subsidiaries

PEA Tollway Corporation (PEATC)

The PEA Tollway Corporation is a wholly owned subsidiary of the Philippine Reclamation Authority (PRA) and was registered with the Securities and Exchange Commission in 1997. Pursuant to Section 15.03 of the Toll Operations Agreement (TOA), PEATC was tasked to undertake and perform the Operations and Maintenance (O&M) obligations of PRA, specifically to manage, operate, monitor, maintain and repair the Manila-Cavite Toll Expressway Project (MCTEP), comprising of three (3) expressways divided into five (5) segments, namely: Segment 1 or the R-1 Expressway, Segment 2 and Segment 3 or the C-5 South Link Expressway, Segment 4 or the R-1 Expressway Extension, and Segment 5 which is still under the preliminary feasibility study phase.

The PEATC started its toll operation with the R-1 Expressway in 1998, a 7-kilometer toll road from Parañaque City to Bacoor, Cavite. This tollway facility has helped in effecting a more favorable business climate for both local and foreign investors by linking the Calabarzon Region to the rest of the business centers in Metro Manila.

In 2011, its operation was extended to a 14-kilometer toll road along the coast of Manila Bay from Zapote, Las Piñas to Kawit, Cavite that is now known as CAVITEX. It utilizes the country’s first prepaid card toll payment scheme or e-Tap card (now Easytrip) and pioneered the first Radio Frequency Identification (RFID) technology in the country.

The PRA and its joint venture partner in the MCTEP, Cavitex Infrastructure Corporation (CIC), is currently undertaking the construction of Segments 2 and 3 or the C5 South Link Expressway Project (SLEP), which will run from the end of C5, just before entering the South Luzon Expressway, to Segment 1 near the Parañaque Toll Plaza. Upon completion, these two segments aim to help decongest traffic by linking major business districts in Makati and Taguig to the southern cities of Parañaque, Las Piñas, and Cavite, targeting high-value trips such as cargo trucks, vans, and buses. A groundbreaking ceremony for SLEP was held on May 6, 2016 with the late former President Benigno S. Aquino III as guest of honor. Segment 3A-1 started operation in July 2019,  while Segment 3A-2 will be opened to traffic in June 2022. The remaining Segments 3B and 2 are targeted to be finished by 2023.

Aside from toll collection, the PEATC also implements programs on traffic control and emergency operations including assistance to disabled vehicles. To maximize the provision of services to the public, it also provides other support mechanisms such as the establishment of information services and administration of ancillary facilities.

Upon the execution of the Operation and Maintenance Agreement (OMA) and the Voting Trust Agreement (VTA) in November 2006, CIC participated in the O&M of the MCTEP. However, pursuant to the expiration of the effectivity of the OMA and VTA in August 2021, the full O&M of the MCTEP reverted back to PRA through PEATC effective January 1, 2022.

Bay Dredging Inc.

Bay Dredging Inc. (BDI) is a joint venture between the R-1 Consortium and the Philippine Reclamation Authority (PRA), with PRA owning 40% and R-1 Consortium owning 60% thereof. Its primary purpose is to enter into contracts to reclaim, to participate in dredging contracts in the Philippines, and to supply dredgefill materials to all reclamation projects. On 28 January 1998, BDI was incorporated and registered with the Securities and Exchange Commission. In 2008, BDI supplied sand for the reclamation component of the Cavite Expressway.

Premised on the Commission on Audit’s recommendation for the PRA to conduct a thorough review of its equity investment in the BDI, the Authority thoroughly reviewed its mandates and purpose vis-à-vis the operational performance of BDI. As a result of which, on February 18, 2021, the PRA Governing Board approved the disengagement of the Authority from BDI by way of selling its shares of stock through public bidding in accordance with the existing law and regulations, subject to right of first refusal by R1 Consortium or through dissolution process.