MPTC studies feasibility of ‘NLEX Air’

METRO PACIFIC Tollways Corp. (MPTC) said it is assessing the viability of its planned “NLEX Air,” an elevated tollway designed to help ease rising congestion along the northern stretch of the North Luzon Expressway (NLEX).

“We need to work on expanding NLEX, sumisikip na (it is getting congested already). The space between Balintawak and Marilao is getting decongested. We need to work on that,” MPTC President and Chief Executive Officer Gilbert F. Santa Maria told reporters on the sidelines of an event last week.

“What we are trying to figure out now is what is the optimal alignment that will maximize development for the future without crippling us financially,” he added.

The feasibility study comes as MPTC recently raised P20 billion from a fixed-rate bond issuance to finance projects and refinance existing loan facilities.

Its P15-billion fixed-rate bonds were oversubscribed by P5 billion.

The offer period ran from Nov. 17 to 21, with the bonds issued and listed on the Philippine Dealing & Exchange Corp. (PDEx) on Tuesday, Dec. 2.

Proceeds from the bond sale will help manage the company’s debt and fund projects such as the Cavite-Laguna Expressway (CALAX) and the Lapu-Lapu Expressway (LLEX).

Mr. Santa Maria said the full CALAX alignment remains on track for completion by 2026, while the company is currently bidding out contracts for Phase 1 of LLEX.

MPTC is the tollways unit of Metro Pacific Investments Corp. (MPIC), one of three key Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd.

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