NLEX Corp. borrows P10 billion for expansion

MANILA, Philippines — North Luzon Expressway (NLEX) Corp. has borrowed P10 billion from a local bank to finance the remaining portion of a viaduct project bridging Bulacan and Pampanga.

NLEX Corp. said it has signed a 10-year loan facility with China Banking Corp., improving its financial position to undertake new and expansion projects.

The funding will be used to complete the remaining segments of the third bridge for the Candaba Viaduct, which links Bulacan and Pampanga in NLEX.

To date, the third bridge of the Candaba Viaduct has reached 95-percent completion, and NLEX Corp. aims to open it before the holiday rush. With the loan, the concessionaire is optimistic it can finish the remaining 1.2 kilometers of the project.

NLEX Corp. allows Manila-bound motorists to use the completed part of the bridge from Pulilan, Bulacan to Apalit, Pampanga. Once the project is completed, travelers would have another path when traveling to and from Central Luzon via NLEX.

The tollway infrastructure firm is spending P7.89 billion to build the bridge, understanding the role that it would play in enhancing mobility around Luzon.

Apart from this, NLEX Corp. is preparing almost P9 billion for the construction of a direct link to C5 Road and the widening of certain portions of the tollway.

Broken down, the operator is investing P2.1 billion to deliver the first segment of the NLEX C5 Link, which seeks to ease traffic buildup in Mindanao Avenue, one of the busiest thoroughfares in Quezon City.