The Philippine National Construction Corporation, formerly Construction Development Corporation of the Philippines, was organized on November 17, 1966 under SEC Reg. No. 30939 and its subsequent amendments to its Articles of Incorporation and By-Laws pursuant to B.P. No. 68.
From 1987 to 2001, PNCC still engaged in some construction business but this resulted in losses. Since 2002, the Company has veered away from active involvement in construction operations, and focused more on the operation and maintenance of its tollways. However, further financial difficulties prevented PNCC from operating and maintaining its tollways in a manner required of a public utility. Therefore, starting in 1995, PNNC entered into Joint Venture Agreements (JVAs) that resulted in the division of the Tollways into three portions, the North Luzon Expressway (NLEX), the Skyway, and the Southern Luzon Expressway (SLEX).
On February 10, 2005 PNCC turned over the Operation and Maintenance of the North Luzon Tollways to the Manila North Tollways Corporation (MNTC), while the Operation and Maintenance for the Southern Metro Manila Skyway was turned over to the Skyway Operation and Maintenance Corporation on December 31, 2007.
Prior to the expiration of the franchise of PNCC on April 30, 2007, the Company submitted to Congress all the requirements needed for the renewal of the same, but it was not able to get all the requirements needed for the renewal of the same, but it was not able to get the required Senate approval. The Toll Regulatory Board (TRB) issued to a Toll Operation Certificate to PNCC on April 30, 2007 for the Operation and Maintenance of the SLEX and to collect toll fees, in the interim, after its franchise expiration. The PNCC handed over the Operation and Maintenance of the SLEX to Manila Toll Expressway System Inc. on May 2, 2010.
To provide an orderly, coordinated and efficient program for the management and operation of PNCC and its subsidiaries in accordance with law and the overall development plan of the President of the Philippines.
By June 30, 2016, PNCC should have disposed of its assets and paid off its liabilities to the national government and the private sector.
Excellence;
Professionalism; and
Dynamism.
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