NLEx firm eyes P5B for expansion of tollway

A unit of Metro Pacific Tollways Corp. (MPTC) is looking at raising P5 billion more this year to fund its expressway expansion projects in Metro Manila as well as Central and Northern Luzon.

The operator of North Luzon Expressway (NLEx) has earmarked a total of P12 billion for its capital expenditures this year, of which P3 billion is a carryover from 2023.

NLEx Corp. president and general manager J. Luigi Bautista, in an interview with the reporters, said they have yet to secure complete financing for the P1.5-billion “NLEx C5 Link Segment 8.2 – Section 1A” and “NLEx Phase 3 Widening” projects.

The C5 Link project is a two-kilometer toll road that links Mindanao Avenue to Quirino Highway in Novaliches.

The road widening project runs from NLEx San Fernando to the Subic-Clark-Tarlac Expressway Spur in Pampanga. Included in this project is the installation of roadway lighting infrastructure and construction of the Mexico interchange.

Both projects are targeted to start by the third quarter of this year.

Meanwhile, the P7.89-billion “Candaba 3rd Viaduct” and the P23.2-billion “NLEx Connector” were already fully funded, Bautista said.

The 5-km viaduct connects Apalit, Pampanga, and Pulilan, Bulacan. It is being built between two existing viaducts, to expand road capacity.

See Also

RCBC expands offshore borrowing program to $4B

The 8-km NLEx Connector, meanwhile, traverses Caloocan City, and España and Sta. Mesa. It is a public-private partnership project between the Department of Public Works and Highways and NLEx Corp., and seeks to reduce the travel time of cargo going to and from the north and south of Luzon.

As this develops, the Pangilinan-led toll operator—along with partner Singaporean investor GIC—is targeting to complete the acquisition of 35-percent ownership in the 676-km Trans-Java toll road in Indonesia as early as July.

Negotiations are ongoing with state-backed Indonesian toll firm PT Jasamarga Transjawa Tol, which has a road network comprising 13 toll interchanges traversing West Java, Central Java and East Java.

MPTC currently operates four tollways in Indonesia. These include Jakarta Lingkar Barat Satu (Jakarta International Airport), Bintaro Serpong Damai (Commuter Road), Jalan Tol Seksi Empat (Makassar International Airport) and Makassar Metro Network (Harbour Road). INQ