1 week ago
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Elijah Felice Rosales - The Philippine Star
March 10, 2025 | 12:00am
Maria Theresa Wells, officer in charge of MPTC unit North Luzon Expressway (NLEX) Corp., told reporters that MPTC is bringing down its capex by 30 percent to P35 billion in 2025, from P50 billion last year.
STAR / File
MANILA, Philippines — Metro Pacific Tollways Corp. (MPTC) is allocating P35 billion for capital expenditures this year to deliver a number of projects that would boost trade and travel around Luzon.
Maria Theresa Wells, officer in charge of MPTC unit North Luzon Expressway (NLEX) Corp., told reporters that MPTC is bringing down its capex by 30 percent to P35 billion in 2025, from P50 billion last year.
Based on the original guidance, MPTC was supposed to spend just P28 billion for capex in 2024, but the company had to invest more to speed up the completion of select projects.
For 2025, Wells said MPTC would allocate the bulk of its capex for priority projects both in the north and south of Luzon. NLEX Corp. has started the construction of the first segment of NLEX-C5 Northlink costing P2.2 billion and awarded to China Road and Bridge Corp.
The company will also embark on a road widening project in the San Fernando section of NLEX. The program will expand the segment to three lanes in each direction to provide more road space and ease traffic heading to the Subic-Clark-Tarlac Expressway (SCTEX).
In the south, MPTC subsidiary MPCALA Holdings Inc. has vowed to deliver the full alignment of the Cavite-Laguna Expressway (CALAX) within the year.
As of February, MPCALA has built 40 percent of the Governor’s Drive Interchange, stretching for 8.64 kilometers, one of the longest portions of CALAX.
Likewise, MPCALA has wrapped up more than 31 percent of the Kawit Interchange and roughly 22 percent of the Open Canal Interchange.
MPTC supports its capex through revenue generation from toll collection. NLEX, for one, raised toll rates starting March 2 by at least P5 in the open system and P0.72 per kilometer in the closed system to recoup investments made by its concessionaire.
Moreover, MPTC is eyeing to raise fresh funds of up to P50 billion through the sale of new shares. Proceeds from the equity sale will go primarily to debt payments, as MPTC aims to reduce obligations prior to a landmark move.
MPTC is presently negotiating with San Miguel Corp. for the possible merger of their tollway interests, but talks are on hold to give MPTC time to nurse its finances.
