P10-B NLEX financial boost from China Bank
The (10-year term) loan proceeds will fund NLEX Corporation’s capital expenditure program and refinance its maturing debt
The (10-year term) loan proceeds will fund NLEX Corporation’s capital expenditure program and refinance its maturing debt
Pangilinan-led Metro Pacific Tollways Corp. (MPTC) subsidiary NLEX Corporation has secured a P10-billion loan facility from China Banking Corp. to bankroll expansion and infrastructure enhancement projects.
“The (10-year term) loan proceeds will fund NLEX Corporation’s capital expenditure program and refinance its maturing debt. This will help us accomplish our targets — to provide better infrastructure and improve the travel experience of our motorists,” MPTC president and CEO Rogelio S. Singson said on Thursday.
Based on the agreement, a portion of the loan will be allocated to completing the Candaba 3rd Viaduct, which is currently 95 percent finished.
Completion before Christmas rush
The project is expected to be completed before the Christmas rush, with only 1.2 kilometers of the bridge still under construction.
Already partially operational from Pulilan to Apalit, the viaduct will provide a safer and faster route for motorists traveling to Manila.
Singson emphasized the importance of the viaduct in supporting both transportation efficiency and economic growth.
“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,” he said. Maria Romero
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