The Metro Pacific Tollways Corp. (MPTC) is interested in acquiring the remaining government stake at the North Luzon Expressway (NLEX).
“We made an offer to acquire the stake of the TRB [Toll Regulatory Board], BCDA [Bases Conversion and Development Authority] and national government in NLEX. It’s being evaluated now by the government,” Rogelio Singson, MPTC president and chief executive, said on Wednesday.
“I understand before I came in there were already discussions [to acquire the government stake in NLEX]. We are just awaiting the valuation,” Singson, appointed as MPTC president earlier this month, said.
In February, the government announced the plan to sell its 3.46 percent stake in NLEX to bankroll funds for the controversial Maharlika Investment Fund.
MPTC owns 70.78 percent of NLEX while BDO Unibank has another 11.7 percent. EGIS Investment Partners Philippines Inc. has 10.16 percent and Global Fund Holdings another 3.9 percent.
NLEX earlier reported a net income of P2.1 billion in the first three months this year, up 38 percent from P1.5 billion in the same period last year.
It reported revenues amounting to P5.1 billion, 31 percent higher than in the first-quarter of 2022 attributed to strong travel demand and higher toll rates implemented in May and June 2022.
As at end-March, NLEX reported 320,863 daily vehicle entries, higher than 2022 figures by 20 percent. The average daily vehicle entries at SCTEX total 80,261 or 23 percent above last year’s figures covering the same three-month period.
NLEX spans over 105 kilometers or 598 lane-kilometers and the main infrastructure connecting Metro Manila to Central and Northern Luzon. The SCTEX, on the other hand, is a 93.77-kilometer, four-lane highway traversing the provinces of Bataan, Pampanga and Tarlac.
