MANILA, Philippines -- The Metro Pacific infrastructure group led by Manuel V. Pangilinan has submitted an unsolicited proposal to take over the operations of the P27-billion Subic-Clark-Tarlac Expressway (SCTEX), the country's longest expressway.

Publicly listed tollway unit Metro Pacific Tollways Corp., a unit of Pangilinan-led infrastructure holding firm Metro Pacific Investmentsmn Corp., told the Philippine Stock Exchange on Wednesday that a proposal was submitted to the state-owned Bases Conversion Development Authority for the right to operate, maintain, and collect toll from the SCTEX.

The proposal, which was made through Metro Pacific Tollways Development Corporation (MPTDC), a wholly owned subsidiary of MPTC, seeks the assignment and transfer by the BCDA of all its usufructuary title, rights and interests in SCTEX to MPTDC.

In exchange for such assignment, MPTDC has proposed to pay BCDA certain concession fees and a share in future revenues over the life of the concession.

"When accepted, the proposed acquisition of SCTEX will strengthen MPTC's leadership position in the Philippine tollroad industry, increasing our share to approximately 67 percent in linear kilometers from the existing 33 percent," said Ramoncito Fernandez, MPTC president and chief executive officer.

"Ultimately, the motorists will benefit from the consolidation of the toll roads in Northern Luzon by providing them a seamless network of expressways, therefore reducing travel time and making 'motoring' all the more convenient," he said.

Under local regulations, unsolicited proposals under consideration should be subjected to a Swiss challenge, whereby other bidders will be entertained. But the original proponent has the right to match the offer of the best challenger.

Diversifying food and beverage conglomerate San Miguel Corp., which recently bought into the private consortium building the P15-billion, Tarlac-Pangasinan-La Union Expressway, has likewise earlier expressed interest on the SCTEX.

MPTC is a publicly listed infrastructure company that manages the expansion, operation and maintenance of the North Luzon Expressway.

MPTC effectively owns 67.1 percent of Manila North Tollways Corp. and 46 percent of Tollways Management Corp.

SCTEx, the biggest and most ambitious project to date of the state-owned Bases Conversion Development Authority, is a major infrastructure envisioned to serve as a backbone of development in the Central Luzon region.

The 93.77-kilometer, four-lane highway is divided into two major sections. The Subic-Clark section (Package 1) is 50.5 kilometers long while the Clark-Tarlac section (Package 2) spans 43.27 kilometers.