Metro Pacific Tollways Corp. (MPTC) subsidiary NLEX Corp. plans to raise funds to partly finance its about P12- billion capital expenditure (capex) this year.
Luigi Bautista, NLEX Corp. president and general manager, told reporters the company is looking at raising about P5 billion to fund two major expansion projects, the North Luzon Expressway (NLEX) C5 Link Segment 8.2 Section 1A and the NLEX Phase 3 widening.
“We still have to raise funds for these (projects). As soon as we get approval from TRB (Toll Regulatory Board)… we’re just waiting for the right-of-way (ROW)…” Bautista said.
The company’s budget this year is 20 percent lower compared to last year’s P15 billion capex, which also includes the budget for the NLEX Connector project.
“For this year, we’re about P12 billion. Last year, it’s P15 billion but we’re not able to consume it, with carryover of P3 billion,” Bautista said.
The company is ramping up the implementation of five projects in its pipeline: the Candaba 3rd viaduct, NLEX C5 Link, NLEX Phase 3 widening, Sto. Tomas Interchange and the NLEX Connector road.
Of these projects, the NLEX Connector and Candaba are fully funded, while additional fund is needed for the NLEX C5 Link and Phase 3, said Bautista.
The construction of Segment 8.2 of the NLEX C5 Link project is set to start in the third quarter of the year, once 95 percent of the project’s ROW is acquired.
ROW stands at 78 percent. The project comprises a kilometer section of the NLEX C5 Link from NLEX Mindanao Ave. to Quirino Highway in Novaliches.
