MANILA, Philippines - State-run Toll Regulatory Board (TRB) expects to give infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) the green light to construct the proposed P18 billion toll road that would connect the North Luzon expressway and South Luzon expressway.
Edmundo Reyes Jr., executive director of TRB, said the regulator expects to approve the supplemental toll operations agreement (STOA) for the proposed toll road to be undertaken by MPIC’s Manila North Luzon Tollways Corp. (MNTC).
MNTC, a unit of MPIC, holds the concession rights to NLEX that is one of the main arterial routes north of Manila and comprises both open and closed toll-way systems operating an overall road length of 84 kilometers.
Reyes explained that the TRB has already approved the proposed alignment as well as the design of the toll road and expects to look into the financial aspect of the project within the first quarter.
“It is still under study by the board. We have to really take our time and study the details,†he said.
Last Jan. 21, MPIC’s Metro Pacific Tollways Development Corp. (MPTDC) and the state-run Philippine National Construction Corp. (PNCC) signed a joint venture agreement giving MNTC the green light to implement the connector road project as part of the NLEX Metro Expressway link.
The newest is segment 10.2 or the connector road stretching eight kilometers from C-3 to Polytechnic University of the Philippines (PUP) in Sta. Mesa. It also includes a 2.6-kilometer spur road from C-2 to Road 10 leading to the Manila International Container Terminal (MICT) at the Port Area in Manila.
MNTC president Rodrigo Franco earlier said the MPIC Group is looking at completing over P30 billion worth of toll road projects before President Aquino steps down in June 2016.
The projects include the ongoing P1.6 billion segment 9 and the P10.5 billion segment 10.1 under the Harbor Link as well as the P18 billion Segment 10.2 or the NLEX-SLEX connector road.
The construction of segment 9 covering a four-lane divided at-grade expressway stretching 2.42 kilometers from the existing Smart Connect interchange to MacArthur Highway is set to start in May and is expected to be completed June next year.
Segment 10.1 comprising of 5.64 kilometers of four-lane divided elevated expressway from MacArthur Highway to circumferential road – 3 (C-3) is set to start in March and is scheduled for completion in February of 2016.