NLEX Corp. to secures P10 billion loan to fund expansion

 NLEX Corp. raised fresh funds from a P10-billion loan from China Banking Corp. to bankroll infrastructure projects and refinance debt.

According to Metro Pacific Tollways Corp. (MPTC) President and CEO Rogelio S. Singson, the proceeds of the 10-year term loan will be directed toward a series of infrastructure expansions and enhancements that aim to enhance motorist experience.

Singson said the loan proceeds will fund the capital expenditure program and refinance the company’s maturing debt. “This will help us accomplish our targets—to provide better infrastructure and improve the travel experience of our motorists,” he added.

A portion of the loan proceeds will support the completion of the Candaba 3rd Viaduct, a vital bridge currently 95 percent complete.

The viaduct project, already open for Manila-bound motorists between Pulilan and Apalit, aims for full completion before the Christmas season, with only 1.2 kilometers of construction remaining.

Upon completion, the Candaba 3rd Viaduct promises enhanced safety and convenience for motorists, particularly those traveling between Metro Manila and Central Luzon.

“The Candaba 3rd Viaduct also aims to boost socio-economic growth as it facilitates more efficient transport of goods and services. We have always been committed to seeking innovative ways to continuously improve our services, because the end goal is to contribute to our country’s economy and help improve the quality of life of every Filipino,” Singson added.

Nlex Corp. has allotted P12 billion in capital expenditures this year. For 2024, the company expects traffic to rise between five percent and six percent to 370,000 vehicles per day from 350,000 daily traffic in 2023.