5,819

NLEX Corp to spend P19B for traffic projects

NLEX Corp., a unit of the Metro Pacific Group, earmarks about P19 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.