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MPIC toll unit sets aside P2.5-B for NLEx road works

EXPRESSWAY. The NLEx expansion is pushing through in 2013. Map from www.mpic.com.ph

EXPRESSWAY. The NLEx expansion is pushing through in 2013. Map from www.mpic.com.

ph

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