North Luzon Expressway Expansion Project

Active

A unit of Metro Pacific Investments Corp. (MPIC) is set to begin work for the $55.1 million (P2.6 billion) North Luzon Expressway (NLEX) road widening project. MNTC is a subsidiary of Metro Pacific Tollways Corp., the toll road arm of MPIC. MNTC, builder and concessionaire of NLEX, will start a $55 million (P2.4 billion) Segments 2 (Sta. Rita to San Fernando) and 3 (Dau to Sta. Ines) road-widening project t to accommodate the growing number of vehicles plying this key 93-km tollway that connects Metro Manila to Central and Northern Luzon. Dau-Sta. Ines segment has been converted into a two-lane, two-way road from being a one-lane, one-way route. The cost of this segment is P235 million (approximately $5 million). Segment 2 road widening project – which expands the 2-lane portion between Sta. Rita and San Fernando to 3 lanes in each direction is estimated to cost P2.2 billion. There is no detailed document on financing structure but MNTC earlier sealed a 10-year fixed rate term loan facility agreement worth $106 million (P5 billion) with Union Bank of the Philippines to support expansion projects and debt financing. http://www.mntc.com/news-and-events/mntc-to-start-p2-6-b-nlex-road-widening-project-this-month http://www.philstar.com/business/2016/02/15/1553012/mpic-set-begin-p2.6-b-nlex-expansion MNTC earlier sealed a 10-year fixed rate term loan facility agreement worth P5 billion with Union Bank of the Philippines to support expansion projects and debt financing.