Pursuing the third phase of the NLEX widening project requires the concession holder to borrow from financial institutions an initial P5 billion more or less.
This was learned from NLEX president and general manager J. Luigi Bautista who said the toll operator merely awaits Toll and Regulatory Board (TRB) approval of its expressway widening proposal prior to tapping the various lenders for funding.
“We’re raising around P5 billion … as soon as we get approval from TRB [for the NLEX Phase 3 Widening Project]. Just waiting for the ROW to be substantially acquired,” Bautista told reporters.
The NLEX Phase 3 Widening Project involves building new expressway lanes from NLEX San Fernando to the SCTEX Spurt in Pampanga.
This includes the installation of roadway lighting and the reconfiguration of Mexico, Pampanga as a full diamond interchange.
The project is seen to muster TRB scrutiny in the third quarter this year.
Bautista also said the business has set aside P12 billion this year to finance the expansion program, including the NLEX Connector Road and the new five-kilometer Candaba 3rd Viaduct project.
NLEX earlier posted net income of P10 billion in 2023, up 25 percent from only P8 billion in 2022.
Its toll revenue totaled P21.5 billion, 19 percent higher compared to the prior year due to higher traffic and the pursuit of long overdue toll rate adjustments.
NLEX account for 81 percent and the SCTEX another 18 percent of the revenue stream generated from toll operations.
The NLEX Connector started contributing to the toll collection pie only in August 2023.
NLEX Corp. also generates additional revenue from its service facilities in 2023 amounting to P111 million, higher by 31 percent of only P85 million in 2022.
The NLEX spans over 105 kilometer and services an average of 323,791 vehicles per day as of end-2023.
The SCTEX, stretches over 91 kilometers from Subic-Tipo until La Paz, Tarlac and connects the special economic zones in Subic and Clark, Olongapo City, to Tarlac City.
