NLEX CORP., a unit of Metro Pacific Tollways Corp. (MPTC), expects its traffic volume to decline by about 1% due to rising fuel prices linked to the conflict involving Iran.
“In the previous cases during the oil price hikes, there is usually a slowdown in traffic, probably around 1% to 1.5%,” NLEX President and General Manager Luis S. Reñon told reporters on Wednesday during an inspection of Metro Manila Skyway Stage 3 (MMSS3).
He said the tollway operator expects average daily traffic of around 350,000 vehicles but noted that the company may fall short of its projected volume if fuel prices continue to increase.
“Hopefully, we are going to work with the DoTr (Department of Transportation) in the hope of giving haulers, truckers (some relief). We are looking into the possibility of probably providing them some kind of rebates,” he said.
Meanwhile, the Department of Public Works and Highways (DPWH) said the P2.82-billion Section 2A of the MMSS3 project is expected to be completed by the second quarter of next year.
The MMSS3 project is an elevated toll road connecting Makati City to the North Luzon Expressway (NLEX) in Balintawak, Quezon City. Its elevated roadway structure will link to the NLEX-SLEX Connector Road project.
“The commitment of San Miguel and Metro Pacific is by the second quarter or the latest is the middle of next year, it is finished,” Public Works Secretary Vivencio B. Dizon said.
According to the Public-Private Partnership (PPP) Center, the skyway project’s concessionaires are Citra Central Expressway Corp. and Metro Manila Skyway Corp. Meanwhile, the NLEX-SLEX Connector project is being undertaken by NLEX Corp., a unit of Metro Pacific Tollways Corp.
MPTC is the tollway unit of Metro Pacific Investments Corp., one of three Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
