November 24, 2017, 5:11 pm
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Toll operator records higher revenues

NLEX Corp., formerly Manila North Tollways Corp., yesterday said its net income grew by 16 percent to P3.4billion in January to September this year, from P2.9billion in the same period last year.

The growth was attributed to higher revenues in North Luzon expressway (NLEX) and Subic-Clark-Tarlac expressway (SCTEX).

“The increase in traffic from both NLEX and SCTEX operations during the period helped propel the company’s toll revenues to P8.6 billion, 9 percent from P7.9 billion than same period last year,” the company said.

As of end-September, average daily traffic at NLEX for the year reached 233,332 daily entries, up 7 percent from the comparable period last year, while average daily traffic for SCTEX during the period reached 53,407 daily entries, 22 percent higher than the nine-month period in 2016.

The company said steady revenue contributions from its non-toll business operations also drives revenue growth. Non-toll revenues grew by 14 percent to P122 million from P107 million, due to increase in royalty fees, utility facility fees and other non-toll initiatives.

NLEX Corp. parent firm Metro Pacific Investments Corp.’s total claims for government inaction on the toll fee hike petition for NLEX and Manila-Cavite expressway has ballooned to P7.5 billion.

“To date, the Republic and NLEX Corp. are continuing their efforts towards the settlement of NLEX Corp.’s claims,” the company said.

NLEX, which currently spans approximately 95 kilometers or 511-lane km, is the main infrastructure backbone that connects Metro Manila to Central and Northern Luzon.

The company is on track to start construction of the NLEX-South Luzon expressway (SLEX) connector road by next year. 

This will be an elevated four-lane toll expressway structure with a length of 8 km passing through and above the right of way of the Philippine National Railways, starting from NLEX Segment 10 at C-3 road Caloocan City and seamlessly connecting to SLEX through Metro Manila Skyway Stage 3 project in Manila.
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