ASEAN KEY DESTINATIONS
NLEX operator earmarks P19B for 2018 capex
NLEX Corp., the operator of the North Luzon Expressway, has allocated P19 billion to capital spending this year to finance ongoing infrastructure projects.
“The NLEX Corporation is setting aside around P19 billion in 2018 to help solve Metro Manila’s daily traffic bottlenecks,” it said in a regulatory filing via parent Metro Pacific Investments Corp. (MPIC).
“This is in response to the government’s call for the private sector to complement the government’s massive infrastructure push under the ‘Build Build Build’ program,” it said.
The government plans to spend over P8 trillion on the golden age of infrastructure during the six-year term of the Duterte administration, largely funded by tax revenue.
NLEX Corp. noted this year’s capex will be used to construct the Harbor Link Segment 10 of the NLEX, as well as the NLEX-SLEX Connector Road.
The Harbor Link Segment 10 is a 5.7-kilometer elevated expressway which will connect McArthur Highway in Valenzuela City to C-3 Road in Caloocan City.
"When Harbor Link is fully completed, travel between the Ports of Manila and the NLEX will take only 10 minutes and will provide direct expressway access to commercial vehicles, especially heavy trucks,” NLEX Corp. said.
The company will also start constructing the NLEX-SLEX Connector Road this year, which links the two expressways.
It covers 8 kilometers of an all-elevated road over the existing PNR tracks from C-3 in Caloocan City to PUP in Sta. Mesa, Manila.
To be completed in 2021, the connector road is expected to reduce travel time between NLEX and SLEX to 20 minutes from two hours.
“These investments are aimed at supporting the government's initiatives to ease the daily traffic woes of our commuters and drive commerce,” NLEX Corp. president and CEO Rodrigo Franco said.
The company plans to undertake other infrastructure developments this year, including the Subic Freeport Expressway capacity expansion as well as a service facility and rest area along NLEX and two major traffic decongestion projects in Pampanga.
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