Nlex Corp. plans to increase its capital expenditures (capex) by as much as 50 percent in 2024 to bankroll its infrastructure initiatives.
When asked how much the company intends to spend in capex next year, Nlex Corp. President Luigi Bautista replied that the company is allocating “about P15 billion” for “existing and planned expansion” of the North Luzon Expressway (Nlex) and the Subic-Clark-Tarlac Expressway (Sctex).
Nlex Corp. is spending P10 billion in capex this year.
Included in the list of priority projects for Nlex is the Candaba Third Viaduct, which is now “30 percent complete,” Bautista said.
“We are on track…[to] finish by November 2024,” he said.
Costing P7.89 billion, the project involves the construction of a new bridge in the middle of the two existing viaducts to further improve safety and expand the expressway’s capacity to handle more vehicles.
Once completed, this will increase the road capacity of the entire Candaba Viaduct from three lanes without shoulders to three lanes with inner and outer shoulders in each direction. These lanes and shoulders will be wide hence, boosting the safety and convenience of those traversing the viaduct.
The company is also hoping to start, “within the first quarter,” the widening of Nlex Segment 3, which runs from San Fernando, Pampanga to Sctex. The initiative costs P5.5 billion.
The proposal for the project has been submitted to the Toll Regulatory Board (TRB).
“We submitted the invested proposal to TRB. It is within our corridor. It is part of the concession,” Bautista said.
Nlex had said it intends to improve its assets for better customer experience by undertaking the regular pavement repair and bridge strengthening programs, replacement of traffic safety devices and continuous enhancement of its toll systems. It is also set to install more closed-circuit television cameras along NLEX, SCTEX and SFEX and upgrade the NLEX-SCTEX traffic control center.
To reduce its carbon footprint, the company said it will start using electric vehicles (EVs) in its operations. These EVs will be used by NLEX-SCTEX patrol crews. The tollway company will also continue this year its resource-saving initiatives of harnessing solar power in select toll plazas.
Nlex is a subsidiary of the Metro Pacific Tollways Corp., the toll road arm of Metro Pacific Investments Corp.