NLEX to invest P19B on new toll roads
NLEX Corp. has earmarked P19 billion this year for the construction of new expressway projects to ease traffic congestion in Metro Manila.
Company president Rodrigo Franco said the bulk of the programmed budget would be used to construct the urban portions of the North Luzon Expressway such as the Harbor Link Segment 10 (including the R10 Section in Dagat-Dagatan, Navotas City) and the the NLEX-SLEX connector road project.
NLEX, however, clarified that the “amount is an estimate that assumes the satisfactory resolution of tariff adjustments, for which constructive discussions with government are still ongoing.”
“The capex figure will still be subject to review and adjustment depending on the results of the discussions on the tariff,” the company said.
Slated to open this year is Harbor Link Segment 10, a 5.7-kilometer elevated expressway which will cut travel time between the Ports of Manila and the NLEX to only 10 minutes.
NLEX is set to start construction of the 8-km NLEX-SLEX connector road project above the existing PNR tracks from the C3/5th Avenue Interchange in Caloocan City to PUP Sta. Mesa, Manila.
Upon its completion in 2021, the elevated expressway will provide motorists another alternative to the daily heavy traffic on EDSA. It is also expected to reduce travel time between NLEX and SLEX from 2 hours to only 20 minutes.
NLEX will also undertake capacity expansion of the 8-km Subic Freeport Expressway.