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MANILA, Philippines – The toll unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is allocating P2.5 billion in 2013 to expand and repave parts of the Northern Luzon Expressway (NLEx).
In a disclosure on Wednesday, October 31, Metro Pacific Tollways Corp. (MPTC) confirmed reports that it has “budgeted P2.5 billion as capital expenditure for 2013, a significant amount of which is earmarked for the construction of NLEx Segment 9.”
MPTC chief financial officer Christopher Daniel C. Lizo was earlier quoted as saying that the Segment 9 expansion works and repavement of some parts of the tollway will be funded “mostly by internal cash.”
The amount represents 5-times more than the P500 million capital expenditure planned this 2012.
Included in the plans for 2013 are:
- Segment 9 is a P1.6 billion-worth toll road that will link NLEx Cloverleaf and McArthur Highway near the Valenzuela City Hall with a 2.1-kilometer, 4-lane highway. Depending on how fast the government is in securing right-of-way, construction for Segment 9 will likely start by November or December and will be completed in 2013
- Segment 10 is a 7-km road that will connect Segment 9 to Circumferential Road 3 (C3) in Caloocan City. It will cost the company P8 billion and set to be finished by 2015
- Segment 8.2 is an 8-km road that will link Mindanao Avenue and the C5-Commonwealth connection. It will cost approximately P10 billion, and the detailed design is be completed mid-2013
MPTC operates the 84-kilometer NLEX through Manila North Luzon Tollways Corp. (MNTC). – Rappler.com
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