Nexco Central sets up its first overseas unit in Philippines as roadwork booms
MANILA, NNA – Japanese toll road builder and operator Central Nippon Expressway Co. has set up its first overseas unit in the Philippines amid massive infrastructure developments initiated by the government of President Rodrigo Duterte.
The local subsidiary with capital of 50 million pesos ($981,000) was established in Makati City in Metro Manila on Oct. 14 and will start offering services next month, the parent company better known as Nexco Central said in a statement.
Nexco Central Philippines Inc., the unit’s name, will offer consulting services in the Philippines on parking, road maintenance and disaster prevention, a spokesman in the Nagoya headquarters told NNA Wednesday.
Nexco Central hatched the local unit after signing a memorandum of understanding on technical cooperation for the management of roads, bridges and tunnels as well as traffic control. It signed the deal with Metro Pacific Tollways Corp., the largest toll road operator in the Philippines, on April 25, according to the statement.
Nexco Central affiliate Japan Expressway International Co., which oversees international business, and Metropolitan Expressway Co., another major Japanese road builder and operator based in Tokyo, will also work together under the agreement.
Nexco Central, which manages expressways in central Japan, expects to receive about 10 million yen ($92,200) in consultation fees in the first year of the Metro Pacific Tollways partnership, the spokesman said.