North Luzon Expressway Phase 2

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In March 2009, the US$44 million North Luzon Expressway Phase 2 project reached financial closure under a 30-year BOT contract. The project was developed by Manila North Tollways Corporation, an SPV composed by Leighton Holdings Limited (17%) and Metro Pacific Investments Corporation (MPIC) (67%). No information on the bidding process was publicly available. The project followed the North Luzon Expressway Phase 1 project (ID 2074) that reached closure in 2001. This expansion project involved the development of 2.7 km toll road linking NLEX main gateway in Valenzuela City with C5 extension (Mindanao Avenue) in Quezon City. This was the first step for the North Luzon Expressway Phase 2, composed of four different satellite road projects with a total length of 22.5km. Once completed, it would decongest traffic in the Balintawak-EDSA junction. The project was financed by a 7 year loan facility provided by PNB Capital and Investments Corp., the investment bank subsidiary of Philippine National Bank. Phase 2 was originally expected to be completed within 14 months or in February 2010, but as of January 2010, the project was estimated to be completed in April 2010.The road opened march1, http://www.mntc.com/company/Company_Partners.htm As of Jan 2013 no info on opening of road.