Indonesia-based Chitra Group, which holds the majority stake in the South Metro Manila Skyway concession, has revealed a plan to invest $1.2bn in road projects throughout the country.

Out of the $1.5bn, about $1.2bn will be used for acquisitions and the remaining $300m for the completion of the Skyway Stage 3 and Stage 4 projects.

PT Citra Marga Marga Nsuaphala Persada president Shadik Wahono told that the group is keen on participating in more road projects that are up for bidding.

"We want to complete more strategic acquisitions in toll roads. We are here as a long-term operator and investor in the Philippines," Wahono said.

Citra Group is a newly formed company of four Indonesian firms that together own the majority interest in the Skyway concessionaire Citra Metro Manila Tollways (CMMTC).

Skyway Stage 3 is expected to cost about P22bn ($501m) to P24bn ($547m), which will span from Bicutan, Taguig City, to Balintawak, Quezon City.

Stage 3, from SLEX to NLEX, will ease traffic congestion by having on and off ramps in strategic locations along its alignment from Buendia Avenue, Osmena Avenue, Pasig river, Araneta Avenue, A. Bonifacio crossing, and Sgt. A. Rivera Street up to Balintawak.

Stage 4, which is known as C6, will be a 50km semi-elevated road that will span from Lower Bicutan to Pasig and then to Bulacan, passing through the cities and towns of Taytay, Marikina, San Mateo, Montalban and Taguig. It is expected to cost about P28bn ($638m).

The company also operates the Skyway Stage 1, a 9.3km elevated expressway from Buendia, Makati, to Bicutan, and the recently opened Skyway Stage 2 from Bicutan to Alabang.

The company’s investment decision has come ahead of the Filipino Government’s plan to float bids this year for the Daang Hari-South Luzon Expressway link road, the Cavite-Laguna Expressway and the Naia Expressway.