Pangilinan-led Metro Pacific Investments Corp. (MPIC) thru its tollways unit has sealed the deal with the government to build the road that will connect the North Luzon and South Luzon Expressways.
MPIC's Manila North Tollways Corp. (MNTC) and the Department of Public Works and Highways (DPWH) signed the concession agreement for the NLEX-SLEX Connector Road, the company told the Philippine Stock Exchange on Thursday.
MPIC disclosed that the agreement was signed by the DPWH represented by Secretary Mark Villar, and MNTC represented by its President and CEO Rodrigo Franco.
"The project aims to build, operate and maintain an 8-km elevated toll expressway over the right-of-way of the Philippine National Railways starting at the junction of the NLEX Segment 10 at C-3 Road/5th Avenue in Caloocan City, and seamlessly connecting to the SLEX through the Metro Manila Skyway Stage 3 Project in the City of Manila," the company said.
It added that the project has has an estimated total cost of P23.2 billion and will be funded by MNTC through a combination of debt and internally generated funds. —NB, GMA News
- See more at: http://www.gmanetwork.com/news/story/590112/money/economy/dpwh-mpic-ink-concession-deal-for-nlex-slex-connector#sthash.UGROWsKd.dpuf
MPIC's Manila North Tollways Corp. (MNTC) and the Department of Public Works and Highways (DPWH) signed the concession agreement for the NLEX-SLEX Connector Road, the company told the Philippine Stock Exchange on Thursday.
MPIC disclosed that the agreement was signed by the DPWH represented by Secretary Mark Villar, and MNTC represented by its President and CEO Rodrigo Franco.
"The project aims to build, operate and maintain an 8-km elevated toll expressway over the right-of-way of the Philippine National Railways starting at the junction of the NLEX Segment 10 at C-3 Road/5th Avenue in Caloocan City, and seamlessly connecting to the SLEX through the Metro Manila Skyway Stage 3 Project in the City of Manila," the company said.
It added that the project has has an estimated total cost of P23.2 billion and will be funded by MNTC through a combination of debt and internally generated funds. —NB, GMA News
- See more at: http://www.gmanetwork.com/news/story/590112/money/economy/dpwh-mpic-ink-concession-deal-for-nlex-slex-connector#sthash.UGROWsKd.dpuf
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