NLEX Corp. is investing up to P20 billion to extend the North Luzon Expressway to Bataan province, a top executive said.
NLEX president and chief executive Rodrigo Franco said the company was currently doing the engineering study for NLEX Phase 3, with the project cost estimated at P16 billion to P20 billion.
NLEX Phase 3 is envisioned as a 37.76-kilometer, two by two-lane expressway from Sto. Tomas, Pampanga to Dinalupihan, Bataan.
“We are set to submit the investment proposal to TRB [Toll Regulatory Board],” Franco said.
Franco said the company was expecting to complete the right of way acquisition in two years and start the construction by 2020.
Phase 1 of NLEX consists of four segments with a total length of 92 kilometers, including the rehabilitated and expanded 84-km stretch from Balintawak, Quezon City to Mabalacat, Pampanga and the 8.5-km Segment 7 from Hermosa, Bataan to Subic Freeport.
Phase 2 of NLEX consists four segments with a length of 21 kilometers, involving the construction of the greenfield northern C5 to connect the existing C5 from C.P. Garcia Ave. in the University of the Philippines complex in Diliman, Quezon City to NLEX, and extend westward to MacArthur Highway in Valenzuela City, turning south down to C3 in Caloocan City.
NLEX earlier said it was investing P29.43 billion in expressway projects between 2018 and 2020.
These projects include NLEX Segment 10 which is projected to be operational by the first half 2018; Segment 10 from C3 to R10 section to be completed by first quarter of 2019; and the Subic Freeport Expressway to be finished by the first quarter of 2019.
The NLEX-SLEX Connector Road is expected to be completed by the first quarter of 2021.
NLEX earlier reported a net profit of P2.3 billion in January to June, up from P2 billion a year ago.
Toll revenues increased 8 percent in the six-month period to P5.7 billion from P5.2 billion a year earlier, because of the increase in traffic at NLEX and Subic-Clark-Tarlac Expressway.
The average daily traffic for NLEX reached 233,652 daily entries in the first half, or 7 percent higher than the same period last year, while average daily traffic alone SCTEX rose 24 percent to 54,991 daily entries.
Non-toll revenues amounted to P83 million in the first half, also up from P73 million a year ago, on higher royalty fees, utility facility fees and other non-toll initiatives.
NLEX earlier submitted unsolicited proposals worth P122.43 billion to build two major expressway projects.