NLEX to Expand Operations with Loan
NLEX Corp. has obtained a 10-billion poso credit line from China Banking
Corp.
In a statement, the operator of the North Luzon Expressway said the loan
will fund the company's capital expenditure program and refinance its
maturing debt.
This will help NLEx to provide better infrastructure to and improve travel
experience of motorists, it added.
NLEX said a portion of the credit line would be used to complete the
construction of the Candaba 3rd viaduct project, which has already reached
95 percent completion.
The tollway operator indicated that other projects in the pipeline that
would benefit from the Chinabank loan are NLEx C5 Link Segment 8.2 -
Section 1A and NLEx Phase 3 widening.
The C5 Link project is a two-kilometer toll road linking Mindanao Avenue to
Quirino Highway in Novaliches.
The road widening project runs from NLEX San Fernando to Subic-Clark-Tarlac
Expressway Spur in Pampanga.
Motorists should expect to benefit from better experience on the NLEX Corp.
tollways with the projects completed with the Chinabank loan in place.