NLEX CORP. has asked the Toll Regulatory Board (TRB) to allow it to raise toll rates following the completion of the 2.6-kilometer NLEX Harbor Link section between the new Caloocan Interchange, C3 Road/5th Avenue and the new Navotas Interchange in R10/Mel Lopez Boulevard.
In a bulletin published in newspapers on Monday, NLEX Corp. said: “As indicated in the investment proposal, the construction of the C3-R10 Section Project involves a P6.5-billion investment. Thus, in order to allow NLEX Corp. to recoup the costs arising from the C3-R10 Section project, it was proposed that the investment recovery shall involve two components.”
Such components are the additional P2 to the existing open toll system toll rate (per entry) and the extension of the 2008 TRB-approved authorized toll rate formula for the entire Manila North Expressway Project until 2037.
NLEX Corp. is seeking to implement the following toll rates: P51.33 (from P49.07) for class 1 vehicles (cars), P128.34 (from P122.68) for class 2 vehicles (mini vans and buses), and P154 (from P147.21) for class 3 vehicles (large truck and trailers).
“The petition will start the regulatory review process by TRB. Upon approval, the additional toll will be applied to the existing toll rate charged on entry in Balintawak, Mindanao Ave., Karuhatan, Paso de Blas, Meycauayan, Marilao and Bocaue SB toll barrier,” the company said in a statement e-mailed to BusinessWorld on Monday.
The new NLEX Harbor Link section, which features the new Caloocan interchange with on and off ramps along Grace Park; the new Malabon Exit with off ramp on Dagat-Dagatan Avenue; and the new Navotas Interchange with on and off ramps on North Bay Boulevard South, has addressed the worsening traffic conditions and offered an alternative route for commuters and truckers, currently affected by traffic choke points along Quezon Avenue, EDSA, and A. Bonifacio in Manila, NLEX Corp. said.
“The new section has also improved travel time between the Mindanao Toll Plaza and the Port Area in Manila to just 15 to 20 minutes,” it added.
NLEX Corp. is under Metro Pacific Tollways Corp., the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin
