NLEX Corp. said Monday it may delay the implementation of new tollway projects because of the overdue tariff increase since January 2013.
“We needed some clarity on the toll rates issue. It’s difficult in making additional investments if you don’t have clarity on what’s going to happen to the toll rates,” NLEX chief executive Rodrigo Franco told reporters.
“If the situation continues not to be resolved and obviously we will be forced to slow down especially on those projects that have not yet started and that is why we are hoping we will have some clarity on what’s going to happen on the toll rates,” he said.
NLEX and Cavitex Infrastructure Corp. each issued a notice of arbitration and statement of claim to the government, through the Toll Regulatory Board un April 2016 to obtain compensation amounting to about P3 billion for North Luzon Expressways and P877 million for Cavitex.
The two tollway operators filed the notice of arbitration after TRB’s inaction on the toll adjustments which were due since January 2013 for NLEX and January 2012 for Cavitex.
NLEX said foregone revenues from failure to adjust tariff amounted to P7 billon since then, while Cavitex placed the amount at P1.5 billion.
NLEX earlier said it would spend P19 billion this year to build new expressways to help resolve Metro Manila’s traffic bottlenecks.
The company’s 2018 capital expenditure will be used to construct the urban portions of North Luzon Expressway such as Harbor Link Segment 10 (including the R10 Section in Dagat-Dagatan, Navotas City) and the NLEx-SLEx Connector Road project.
NLEX opened Monday the Subic-Clark-Tarlac Expressway Mabiga Interchange and NLEx Sta. Ines-Magalang Exit”•two new projects aimed at improving motorists access with MacArthur Highway.
The tollways company converted the SCTEX Mabiga into a full diamond interchange by building new access ramps with entry and exit toll plazas. The major expressway redesign is seen to improve road safety on the strategic location where the two expressways systems merge with the local traffic network.
The NLEX Sta. Ines interchange got a boost with the construction of a right-turning exit ramp to Mabalacat-Magalang Road to improve direct access to local roads in Magalang, Pampanga.
The company spent P105 million for the construction of SCTEX Magbiga Interchange and P27 million for NLEX Sta. Ines Interchange.
“These enhancements are intended to advance safety and productivity for both motorists and commuters by improving the connectivity of our expressways to and from the MacArthur Highway and other local roads in Pampanga,” Franco said.