Philippines-based company Metro Pacific Tollways (MPTC) has made an offer to state-owned agency Bases Conversion and Development Authority (BCDA) to take over the P27bn ($569m) Subic-Clark-Tarlac tollway.

The company’s subsidiary Metro Pacific Tollways Development has submitted a proposal to BCDA for the right to operate, maintain and collect tolls at the expressway.

In return, the company would pay the government concession fees and a share in future revenues over the life of the concession.

The acquisition will increase the company’s share of tollroads in the country to 67% as opposed to the current 33%.

The 93.7km four-lane road is considered the country’s longest tollway connecting the Subic Freeport and Special Economic Zone and the Clark Special Economic Zone, as well as the Central Techno Park in Tarlac.