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:
MPTC operates the 84-kilometer NLEX through Manila North Luzon Tollways Corp. (MNTC). - Rappler.com