Sunday, 15 February 2009

Metro Pacific to build new road linking NLEX, Mindanao Avenue

GMANews.TV
http://www.gmanews.tv/story/147679/Metro-Pacific-to-build-new-road-linking-NLEX-Mindanao-Avenue

MANILA, Philippines - Starting next month, an infrastructure company will build an expressway connecting Mindanao Avenue to the North Luzon Expressway (NLEX), easing congestion for motorists leaving and entering the toll road.

To be completed in April 2010, the NLEX-Segment 8.1 – a two lane, 2.7 kilometer expressway – will also feature a toll plaza, Metro Pacific Investments Corp. (MPIC) said in a disclosure to the Philippine Stock Exchange (PSE).

MPIC, which is chaired by Manuel V. Pangilinan, owns a majority stake in the First Philippine Infrastructure Investments (FPII), which, in turn, has a controlling stake in the Manila North Tollways Corp. (MNTC). Meanwhile, MNTC has secured a concession to build and maintain the NLEX.

FPII will soon be named Metro Pacific Tollways Corp.

The company’s employees are coordinating with the Department of Public Works and Highways, the Toll Regulatory Board, and other government agencies for completing the remaining right-of-way requirement of the project.

Construction activities arising from this project are expected to “stimulate the economy in the environs of the areas where the roadway will be build and will directly create some 600 jobs," Rodrigo E. Franco, MNTC president and chief executive.

While MNTC will build the 2.7 kilometer expressway, the Department of Public Works and Highways (DPWH), the Metro Manila Development Authority (MMDA), and the Quezon City government will be overseeing efforts to build the road and other infrastructure connecting Mindanao Avenue to C-5 through Katipunan Avenue.

Once completed, the highway “will facilitate a seamless connection of C-5 to the world-class NLEX," Ramoncito S. Fenandez, FPII president and chief executive said. He added that the project is one of priorities of President Gloria Macapagal-Arroyo. - GMANews.TV

1 comment:

  1. Hopefully, there will be a sustained push for investments in local tourism infrastructures both from the public and private sector.

    Russell
    www.e-philippines.com.ph
    explore. experience. enjoy. Philippines.

    ReplyDelete