MANILA, Philippines — The concessionaire managing the North Luzon Expressway (NLEX) plans to raise as much as P5 billion this year to fund expansion projects that would improve traveling experience.
NLEX Corp. will require at least P12 billion in 2024 to finance the delivery of three projects that would expand linkages around Metro Manila and reduce traffic congestion in the tollway.
NLEX Corp. president and general manager J. Luigi Bautista said the company would embark on a fundraising activity to source around P5 billion and fill up its capital gap.
NLEX Corp. has raised the P8 billion requirement for the construction of a middle bridge in the Candaba Viaduct. It needs another P8 billion to begin the extension of NLEX to C-5 Road and widen a certain portion of the expressway.
For 2024, NLEX Corp. will start building the initial segment of the NLEX C-5 Link. The project will span two kilometers connecting Mindanao Avenue and Quirino Highway, providing another alternative in crossing some of the busiest roads in Quezon City.
NLEX Corp. will need P2.1 billion to finish the project, and will begin the civil works by the third quarter to inaugurate the connector by 2025.
Bautista underscored the importance of building the NLEX C-5 Link, as it is expected to mitigate traffic buildup in Mindanao Avenue.
Likewise, NLEX Corp. will undertake the third phase of its widening project, this time covering the segment between San Fernando, Pampanga and the Subic-Clark-Tarlac Expressway.
The project, amounting to P6.5 billion, will also include the construction of a full interchange in Mexico, Pampanga. For the road widening aspect, the goal is to add one lane in each direction to minimize the traffic congestion in the San Fernando section.
NLEX Corp. will also put up street lights along the area for increased visibility for the safety of motorists. The company is waiting for the Toll Regulatory Board to approve the project, but the target is to get it running by the third quarter.
Before the close of the year, NLEX Corp. will complete the third bridge of the Candaba Viaduct, providing another road for travelers crossing the Bulacan and Pampanga portions of the tollway.