Business and Economy
NLEX Corp. to spend P19-B for projects to help solve traffic
The Santa Ines-bound NLEX, just north of Paso de Blas, Valenzuela (Photo By Patrickroque01 at English Wikipedia, CC BY-SA 4.0)
MANILA — NLEX Corp., a unit of the Metro Pacific Group, earmarks about PHP19 billion in capital expenditures this year to begin the construction of projects that are expected to help solve Metro Manila’s daily traffic congestion.
The tollway company told the local bourse the capital spending figure will still be subject to review and adjustment depending on the results of the discussions with government on the tariff.
Company president and chief executive officer Rodrigo Franco said the bulk of the amount will be used to construct the urban portions of the North Luzon Expressway (NLEX), such as the Harbor Link Segment 10 and the NLEX-South Luzon Expressway Connector Road project.
Expected to be opened this year, Harbor Link Segment 10 is a 5.7-kilometer elevated expressway traversing the NLEX from Smart Connect Interchange and crossover Mac Arthur Highway in Valenzuela City with down ramps along C3/5th Avenue Interchange 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 for commercial vehicles especially heavy trucks.
The tollways firm will also start construction of the NLEX-SLEX Connector Road Project, an eight-kilometer all-elevated public-private partnership (PPP) project of the Department of Public Works and Highways (DPWH).
The elevated expressway is above the existing Philippine National Railways (PNR) tracks from the C3/5th Avenue Interchange in Caloocan City to PUP Sta. Mesa, Manila.
Upon its completion in 2021, the expressway project will provide motorists another alternative to the daily heavy traffic on EDSA and reduce travel time between NLEX and SLEX from two hours to only 20 minutes.
NLEX Corporation will also undertake capacity expansion of the eight-km Subic Freeport Expressway through constructing 16 new lane kilometers thus boosting Subic port as a prime logistics hub.
Through its subsidiary, NLEX Ventures Corporation (NVC), the company has also started construction of a new expressway service facility and rest area along Km. 17 Southbound of the NLEX.
NLEX Corporation is also constructing two major traffic decongestion projects in Mabalacat City, Pampanga –the new Sta. Ines Interchange and the new Mabiga Interchange in 2018.
“These investments are aimed at supporting the government’s initiatives to ease the daily traffic woes of our commuters, drive commerce, and are part of our continuing commitment to further ensure safe and convenient travel in our expressways and maintain our high-quality service,” added Franco.
